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PPP Loan Data — The Southern Finishing Company, Inc.,
Stoneville, NC
The Southern Finishing Company, Inc.
Entity: Corporation
Industry: Wood Kitchen Cabinet and Countertop Manufacturing
Location: Stoneville, NC
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The Southern Finishing Company, Inc. is a corporation located at Po Box 888 in Stoneville, North Carolina that received a Coronavirus-related PPP loan from the SBA of $3,694,702.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-15Lender:
HOMETRUST BANKThe Southern Finishing Company, Inc. received a Paycheck Protection Loan of $3.69M through HOMETRUST BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, The Southern Finishing Company, Inc.'s total 2019 payroll expenses were approximately $17.73M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $35,469 per employee1.
Business Information - The Southern Finishing Company, Inc. in Stoneville, NC
Po Box 888
Stoneville, NC 27048
Business Industry
Wood Kitchen Cabinet and Countertop Manufacturing (NAICS code 337110)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: NON-VETERAN
Congressional District: NC-06Similar Companies near Stoneville
In the Stoneville area, 2 businesses in the "Wood Kitchen Cabinet and Countertop Manufacturing" industry received a PPP loan. These local businesses reported an average of 253 employees (compared to this company's 500) and received an average PPP loan of $1,855,307 (compared to this company's $3.69M).
Similar Nearby Businesses Who Received PPP Funding:
Pilot Cabinet Works, Inc.
Siloam, NC
Industry PPP Comparison Statistics
Nationwide, 5,439 businesses in the "Wood Kitchen Cabinet and Countertop Manufacturing" industry received a total of $649,251,122.00 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 11 employees, 98% lower than The Southern Finishing Company, Inc.'s reported 500 employees, and received an average PPP loan of $119,370, 97% lower than this company's loan of $3.69M.
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.
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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