PPP Loan Data — Springers General Home Improvement, Inc, Central Point, OR
Springers General Home Improvement, Inc is a corporation located at 3432 Edella St in Central Point, Oregon that received a Coronavirus-related PPP loan from the SBA of $25,462.00 in May, 2020.
The company has reported itself as a White male owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:JPMorgan Chase Bank, National Association
Springers General Home Improvement, Inc in Central Point, OR received a Paycheck Protection Loan of $25,462 through JPMorgan Chase Bank, National Association, which was approved in May, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in May, 2021.
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, Springers General Home Improvement, Inc's 2019 payroll expenses are estimated to be at least $122,218.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,444 per employee1
Reported PPP Proceed Usage:
On the PPP application, Springers General Home Improvement, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $22,962
- Rent: $2,500
Business Information - Springers General Home Improvement, Inc in Central Point, OR
3432 Edella St
Central Point, OR 97502
NAICS code 236118
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Central Point
In the Central Point area, 34 businesses in the "Residential Remodelers" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 5) and received an average PPP loan of $17,478 (compared to this company's $25,462).
Similar Nearby Businesses Who Received PPP Funding:
SG Construction & Remodeling LLC
Central Point, OR
Remodel Solutions LLC
White City, OR
Central Point, OR
Industry PPP Comparison Statistics
Nationwide, 175,017 businesses in the "Residential Remodelers" industry received a total of $5.32B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 3 employees, 40% lower than Springers General Home Improvement, Inc's reported 5 employees, and received an average PPP loan of $30,405, 19% higher than this company's loan of $25,462.
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Footnotes & Information
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