PPP Loan Data — Sharp Carpet Factory Outlet, Inc, Birmingham, AL
Sharp Carpet Factory Outlet, Inc is a corporation located at 320 Oxmoor Road in Birmingham, Alabama that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Sharp Carpet Factory Outlet, Inc in Birmingham, AL received a Paycheck Protection Loan of $25,000 through Bryant Bank, which was approved in May, 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, Sharp Carpet Factory Outlet, Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sharp Carpet Factory Outlet, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Sharp Carpet Factory Outlet, Inc in Birmingham, AL
320 Oxmoor Road
Birmingham, AL 35209
NAICS code 238330
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Birmingham
In the Birmingham area, 5 businesses in the "Flooring Contractors" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 2) and received an average PPP loan of $63,185 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Grayton Products, LLC
Southern Carpet Hardwood & Tile Inc
Terry Fry Inc
Industry PPP Comparison Statistics
Nationwide, 28,132 businesses in the "Flooring Contractors" industry received a total of $1.48B 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 5 employees, 150% higher than Sharp Carpet Factory Outlet, Inc's reported 2 employees, and received an average PPP loan of $52,734, 111% higher than this company's loan of $25,000.
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Footnotes & Information
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