Furniture and Home Furnishing Merchant Wholesalers

Businesses and organizations in the Furniture and Home Furnishing Merchant Wholesalers industry (NAICS code 4232, part of the Wholesale Trade sector) received 10,199 PPP loans totaling $1.29B during the COVID-19 pandemic.

The average loan for this industry was $126,868 — above the national PPP average of approximately $67,000. This reflects the small business character of most participants in this industry, typically sole proprietors and micro-businesses with modest payroll obligations.

94.6% of loans in this industry were forgiven — totaling $1.26B. To qualify for forgiveness, borrowers had to demonstrate that they maintained headcount and compensation levels and used at least 60% of loan proceeds for payroll expenses.

Notable recipients in this industry include MEYER CORPORATION, U.S. of VALLEJO, CA ($6,878,390); THE INSIDE SOURCE, INC. of SAN CARLOS, CA ($6,578,920); and GIBSON OVERSEAS, INC. of COMMERCE, CA ($6,375,000).

The loan amount distribution for this industry shows a more even spread across loan sizes, suggesting a mix of small and mid-sized businesses. Because borrower names are withheld for loans under $150,000, a substantial portion of recipients in this industry may not appear by name in this dataset.

As part of the broader Wholesale Trade sector — selling goods to retailers, industrial, commercial, institutional, or professional business users. — businesses in NAICS 4232 were particularly reliant on PPP assistance to bridge the gap between declining revenues and fixed overhead obligations during the shutdown period.