PPP Loan Data — Wolff Shoe Company, Fenton, MO
Wolff Shoe Company is a subchapter s corporation located at 1705 Larkin Williams Rd in Fenton, Missouri that received a Coronavirus-related PPP loan from the SBA of $1,781,645.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:U.S. Bank, National Association
Wolff Shoe Company in Fenton, MO received a Paycheck Protection Loan of $1.78M through U.S. Bank, National Association, 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 January, 2021.
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, Wolff Shoe Company's 2019 payroll expenses are estimated to be at least $8.55M.
Based on their reported 171 jobs retained, this equals an estimated average yearly compensation of $50,011 per employee1
Reported PPP Proceed Usage:
On the PPP application, Wolff Shoe Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,781,645
Business Information - Wolff Shoe Company in Fenton, MO
1705 Larkin Williams Rd
Fenton, MO 63026
NAICS code 448210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Fenton
In the Fenton area, 2 businesses in the "Shoe Stores" industry received a PPP loan. These local businesses reported an average of 105 employees (compared to this company's 171) and received an average PPP loan of $994,065 (compared to this company's $1.78M).
Similar Nearby Businesses Who Received PPP Funding:
Chucks Acquisition Co., LLC
Industry PPP Comparison Statistics
Nationwide, 7,952 businesses in the "Shoe Stores" industry received a total of $380.28M 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 6 employees, 96% lower than Wolff Shoe Company's reported 171 employees, and received an average PPP loan of $47,822, 97% lower than this company's loan of $1.78M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!