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PPP Loan Data — Vanguard Furniture Co., Inc.,
Conover, NC
Vanguard Furniture Co., Inc.
Entity: Corporation
Industry: Upholstered Household Furniture Manufacturing
Location: Conover, NC
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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
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-28Lender:
FIRST HORIZON BANKVanguard 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
Business Industry
Upholstered Household Furniture Manufacturing (NAICS code 337121)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: FEMALE OWNED
Veteran Status: NON-VETERAN
Congressional District: NC-10Similar 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
Conover, NC
DAL Leather, Inc.
Conover, NC
Wesley Hall, Inc
Conover, NC
Classic Leather Inc.
Conover, NC
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.
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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