PPP Loan Data — Tri-State Forest Products, Inc, Springfield, OH
Tri-State Forest Products, Inc
Entity: Subchapter S Corporation
Location: Springfield, OHTweet This • Search All PPP Data
Tri-State Forest Products, Inc is a subchapter s corporation located at 2105 Sheridan Ave in Springfield, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,219,300.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:KeyBank National Association
Tri-State Forest Products, Inc in Springfield, OH received a Paycheck Protection Loan of $2.22M through KeyBank National Association, which was approved in April, 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, Tri-State Forest Products, Inc's 2019 payroll expenses are estimated to be at least $10.65M.
Based on their reported 179 jobs retained, this equals an estimated average yearly compensation of $59,512 per employee1
Reported PPP Proceed Usage:
On the PPP application, Tri-State Forest Products, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,219,300
Business Information - Tri-State Forest Products, Inc in Springfield, OH
2105 Sheridan Ave
Springfield, OH 45505
Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers
NAICS code 423310
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 5,326 businesses in the "Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers" industry received a total of $1.04B 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 18 employees, 90% lower than Tri-State Forest Products, Inc's reported 179 employees, and received an average PPP loan of $194,849, 91% lower than this company's loan of $2.22M.
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Footnotes & Information
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