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PPP Loan Data — Storey Kenworthy Company, Des Moines, IA

SBA PPP loan data, payroll data, and salaries for Storey Kenworthy Company
IA

Storey Kenworthy Company

Entity: Limited Liability Company (LLC)

Industry: Office Supplies and Stationery Stores

Location: Des Moines, IA

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Storey Kenworthy Company is a limited liability company (LLC) located at 309 Locust St in Des Moines, Iowa that received a Coronavirus-related PPP loan from the SBA of $2,527,715.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.53M

Jobs Retained:

213

Loan Approved:

2020-04-07

Lender:

LINCOLN SAVINGS BANK

Storey Kenworthy Company received a Paycheck Protection Loan of $2.53M through LINCOLN SAVINGS BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Storey Kenworthy Company's total 2019 payroll expenses were approximately $12.13M in order to qualify for the PPP loan amount received.

Based on their reported 213 jobs retained, this equals an estimated average yearly compensation of $56,963 per employee1.

Because the loan received by Storey Kenworthy Company is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Storey Kenworthy Company in Des Moines, IA

Storey Kenworthy Company
309 Locust St
Des Moines, IA 50321

Business Industry

Office Supplies and Stationery Stores (NAICS code 453210)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IA-03

Industry PPP Comparison Statistics

Nationwide, 2,286 businesses in the "Office Supplies and Stationery Stores" industry received a total of $199,590,336.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 9 employees, 96% lower than Storey Kenworthy Company's reported 213 employees, and received an average PPP loan of $87,310, 97% lower than this company's loan of $2.53M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/storey-kenworthy-company-des-moines-ia