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PPP Loan Data — Woodfin Heating, Inc., Richmond, VA

SBA PPP loan data, payroll data, and salaries for Woodfin Heating, Inc.
VA

Woodfin Heating, Inc.

Entity: Subchapter S Corporation

Industry: Petroleum and Petroleum Products Merchant Wholesalers (except Bulk Stations and Terminals)

Location: Richmond, VA

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Woodfin Heating, Inc. is a subchapter s corporation located at 1823 N Hamilton Street in Richmond, Virginia that received a Coronavirus-related PPP loan from the SBA of $10,000,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$10M

Jobs Retained:

0 Unreported

Loan Approved:

2020-04-13

Lender:

TOWNE BANK

Woodfin Heating, Inc. received a Paycheck Protection Loan of $10M through TOWNE BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Woodfin Heating, Inc.'s total 2019 payroll expenses were approximately $48M in order to qualify for the PPP loan amount received.

Unlike most businesses, Woodfin Heating, Inc.'s PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.

Because the loan received by Woodfin Heating, Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Woodfin Heating, Inc. in Richmond, VA

Woodfin Heating, Inc.
1823 N Hamilton Street
Richmond, VA 23230

Business Industry

Petroleum and Petroleum Products Merchant Wholesalers (except Bulk Stations and Terminals) (NAICS code 424720)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: VA-04

Similar Companies near Richmond

In the Richmond area, 2 businesses in the "Petroleum and Petroleum Products Merchant Wholesalers (except Bulk Stations and Terminals)" industry received a PPP loan. These local businesses reported an average of 25 employees (compared to this company's 0) and received an average PPP loan of $5,262,850 (compared to this company's $10M).

Similar Nearby Businesses Who Received PPP Funding:

Rockingham Petroleum Cooperative, Inc
Richmond, VA

$525,700 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 2,382 businesses in the "Petroleum and Petroleum Products Merchant Wholesalers (except Bulk Stations and Terminals)" industry received a total of $553,390,948.00 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 18 employees, and received an average PPP loan of $232,322, 98% lower than this company's loan of $10M.

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/woodfin-heating-inc-richmond-va