PPP Loan Data — Rustic Acres, Inc. AKA Rustic Acres Furniture Inc, Indiana, PA
Rustic Acres, Inc. AKA Rustic Acres Furniture Inc is a corporation located at 1850 Oakland Ave in Indiana, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $46,061.00 in April, 2020.
The company has reported itself as a female owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:S & T Bank
Rustic Acres, Inc. AKA Rustic Acres Furniture Inc in Indiana, PA received a Paycheck Protection Loan of $46,061 through S & T Bank, which was approved in April, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Rustic Acres, Inc. AKA Rustic Acres Furniture Inc's 2019 payroll expenses are estimated to be at least $221,093.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $73,698 per employee1
Reported PPP Proceed Usage:
On the PPP application, Rustic Acres, Inc. AKA Rustic Acres Furniture Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,061
Business Information - Rustic Acres, Inc. AKA Rustic Acres Furniture Inc in Indiana, PA
1850 Oakland Ave
Indiana, PA 15701
NAICS code 442110
Business Owner Demographics
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Indiana
In the Indiana area, 2 businesses in the "Furniture Stores" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 3) and received an average PPP loan of $45,774 (compared to this company's $46,061).
Similar Nearby Businesses Who Received PPP Funding:
Rustic Acres Inc
Industry PPP Comparison Statistics
Nationwide, 16,379 businesses in the "Furniture Stores" industry received a total of $1.53B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 10 employees, 233% higher than Rustic Acres, Inc. AKA Rustic Acres Furniture Inc's reported 3 employees, and received an average PPP loan of $93,282, 103% higher than this company's loan of $46,061.
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Footnotes & Information
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