PPP Loan Data — Vanguard Furniture Co., Inc., Conover, NC
Vanguard Furniture Co., Inc. is a corporation located at 109 Simpson St in Conover, North Carolina that received a Coronavirus-related PPP loan from the SBA of $5,568,805.00 in April, 2020.
The company has reported itself as a White female owned business, and employed at least 500 people during the applicable loan loan period.
$ PPP Loan Information
Lender:FIRST HORIZON BANK
Vanguard Furniture Co., Inc. received a Paycheck Protection Loan of $5.57M through FIRST HORIZON BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Vanguard Furniture Co., Inc.'s total 2019 payroll expenses were approximately $26.73M 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 $53,461 per employee1.
Business Information - Vanguard Furniture Co., Inc. in Conover, NC
109 Simpson St
Conover, NC 28613
Upholstered Household Furniture Manufacturing (NAICS code 337121)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: FEMALE OWNED
Veteran Status: NON-VETERANCongressional District: NC-10
Similar Companies near Conover
In the Conover area, 5 businesses in the "Upholstered Household Furniture Manufacturing" industry received a PPP loan. These local businesses reported an average of 168 employees (compared to this company's 500) and received an average PPP loan of $1,835,033 (compared to this company's $5.57M).
Similar Nearby Businesses Who Received PPP Funding:
Timmerman Manufacturing Inc
DAL Leather, Inc.
Wesley Hall, Inc
Classic Leather Inc.
Industry PPP Comparison Statistics
Nationwide, 827 businesses in the "Upholstered Household Furniture Manufacturing" industry received a total of $218,176,953.00 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 25 employees, 95% lower than Vanguard Furniture Co., Inc.'s reported 500 employees, and received an average PPP loan of $263,817, 95% lower than this company's loan of $5.57M.
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Footnotes & Information
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