J.H. FLETCHER & COMPANY
PPP Loan approved Apr 27, 2020 through Burke and Herbert Bank and Trust Company
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $3,500,000.00 | 78.9% |
| Utilities | $934,700.00 | 21.1% |
About This Loan
J.H. FLETCHER & COMPANY received a PPP loan of $4,434,700 approved on Apr 27, 2020. The loan was originated by Burke and Herbert Bank and Trust Company.
J.H. FLETCHER & COMPANY is a corporation located in HUNTINGTON, West Virginia. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Manufacturing industry (NAICS 333131), part of the Manufacturing sector of the economy. The applicant reported 240 jobs as retained through this loan.
The SBA forgave $4,484,713.56 of this loan — 101.1% of the total approved amount, with forgiveness recorded on Jun 15, 2021. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.
According to the SBA's records, the proceeds of this loan were allocated as follows: $3,500,000 to payroll, $934,700 to utilities. The payroll component represents 78.9% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in West Virginia, visit the West Virginia page. To compare this loan with others in the same industry, see the Manufacturing industry page.