PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

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

ALERT: There are 2 PPP loans for a total of $4.53M in our database for businesses with the name "Storey-Kenworthy Company" in Des Moines, IA. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

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

Storey-Kenworthy Company

Entity: Limited Liability Company (LLC)

Industry: Furniture Stores

Location: Des Moines, IA

Search All PPP Data

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 $2,000,000.00 in January, 2021.

$ PPP Loan Information
Loan #4181848307

Loan Size:

$2M

Jobs Retained:

165

Loan Approved:

2021-01-23

Loan Status:

Paid in Full or Forgiven

Lender:

Lincoln Savings Bank

Storey-Kenworthy Company in Des Moines, IA received a Paycheck Protection Loan of $2M through Lincoln Savings Bank, which was approved in January, 2021.

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 September, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Storey-Kenworthy Company's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 165 jobs retained, this equals an estimated average yearly compensation of $58,182 per employee1

Reported PPP Proceed Usage:

On the PPP application, Storey-Kenworthy Company reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,000,000
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 50309

Business Industry:
Furniture Stores
NAICS code 442110

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: Y

Rural / Urban: Urban

Polk County, IA — SBA Office 0761 — Congressional District: IA-03

Similar Companies near Des Moines

In the Des Moines area, 4 businesses in the "Furniture Stores" industry received a PPP loan. These local businesses reported an average of 44 employees (compared to this company's 165) and received an average PPP loan of $532,636 (compared to this company's $2M).

Industry PPP Comparison Statistics

Nationwide, 16,172 businesses in the "Furniture Stores" industry received a total of $1.52B 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, 94% lower than Storey-Kenworthy Company's reported 165 employees, and received an average PPP loan of $94,166, 95% lower than this company's loan of $2M.

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

Search All PPP Data

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 #6833697004

Loan Size:

$2.53M

Jobs Retained:

213

Loan Approved:

2020-04-07

Loan Status:

Paid in Full or Forgiven

Lender:

Lincoln Savings Bank

Storey Kenworthy Company in Des Moines, IA received a Paycheck Protection Loan of $2.53M through Lincoln Savings Bank, which was approved in April, 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 July, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Storey Kenworthy Company's 2019 payroll expenses are estimated to be at least $12.13M.

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

Reported PPP Proceed Usage:

On the PPP application, Storey Kenworthy Company reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,913,693
  • Utilities: $31,015
  • Rent: $181,435
  • Health Care: $401,572
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: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Polk County, IA — SBA Office 0761 — Congressional District: IA-03

Similar Companies near Des Moines

In the Des Moines area, 4 businesses in the "Office Supplies and Stationery Stores" industry received a PPP loan. These local businesses reported an average of 64 employees (compared to this company's 213) and received an average PPP loan of $743,090 (compared to this company's $2.53M).

Industry PPP Comparison Statistics

Nationwide, 4,030 businesses in the "Office Supplies and Stationery Stores" industry received a total of $313.14M 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 9 employees, 96% lower than Storey Kenworthy Company's reported 213 employees, and received an average PPP loan of $77,703, 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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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