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PPP Loan Data — Aetius Restaurant Holdings LLC,
Charlotte, NC
Aetius Restaurant Holdings LLC
Entity: Limited Liability Company (LLC)
Industry: Full-Service Restaurants
Location: Charlotte, NC
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Aetius Restaurant Holdings LLC is a limited liability company (LLC) located at 205 Regncy Ex Pk Dr Ste 204 205 Regncy Ex Pk Dr Ste 204 in Charlotte, North Carolina that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.
$
PPP Loan Information
Loan #9573518500
Loan Size:
Jobs Retained:
85Loan Approved:
2021-03-12Loan Status:
Paid in Full or ForgivenLender:
PNC Bank, National AssociationAetius Restaurant Holdings LLC in Charlotte, NC received a Paycheck Protection Loan of $2M through PNC Bank, National Association, which was approved in March, 2021.
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, 2022.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 85 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 96. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Aetius Restaurant Holdings LLC's 2019 payroll expenses are estimated to be at least $9.6M (not accounting for salary amounts > $100k).
Because the 85 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Aetius Restaurant Holdings LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,996
- Utilities: $1
Business Information - Aetius Restaurant Holdings LLC in Charlotte, NC
205 Regncy Ex Pk Dr Ste 204 205 Regncy Ex Pk Dr Ste 204
Charlotte, NC 28217
Business Industry:
Full-Service Restaurants
NAICS code 722511
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near Charlotte
In the Charlotte area, 100 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 37 employees (compared to this company's 85) and received an average PPP loan of $215,081 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Find Something To DO, LLC
Charlotte, NC
Beaford Inc
Charlotte, NC
Showmars Of North Lake LLC
Charlotte, NC
Stbt Acquisitions Sip LLC
Charlotte, NC
Sunrise Trading Enterprise, Inc
Charlotte, NC
Azteca Mexican Restaurant Inc
Charlotte, NC
Sorto, Inc
Charlotte, NC
Marcardio Liddell
Charlotte, NC
Tryon House Of Woodlawn, Inc
Charlotte, NC
Industry PPP Comparison Statistics
Nationwide, 326,447 businesses in the "Full-Service Restaurants" industry received a total of $42.51B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 5% of the total PPP funding allocated.
PPP recipients in this industry report an average of 22 employees, 74% lower than Aetius Restaurant Holdings LLC's reported 85 employees, and received an average PPP loan of $130,223, 93% lower than this company's loan of $2M.
Aetius Restaurant Holdings LLC
Entity: Limited Liability Company (LLC)
Industry: Full-Service Restaurants
Location: Charlotte, NC
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Aetius Restaurant Holdings LLC is a limited liability company (LLC) located at 205 Regency Executive Park, Suite 204 in Charlotte, North Carolina that received a Coronavirus-related PPP loan from the SBA of $4,565,900.00 in April, 2020.
$
PPP Loan Information
Loan #5773867206
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-27Loan Status:
Paid in Full or ForgivenLender:
PNC Bank, National AssociationAetius Restaurant Holdings LLC in Charlotte, NC received a Paycheck Protection Loan of $4.57M through PNC 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 February, 2022.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Aetius Restaurant Holdings LLC's 2019 payroll expenses are estimated to be at least $21.92M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $43,833 per employee1
Reported PPP Proceed Usage:
On the PPP application, Aetius Restaurant Holdings LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,565,900
Business Information - Aetius Restaurant Holdings LLC in Charlotte, NC
205 Regency Executive Park, Suite 204
Charlotte, NC 28217
Business Industry:
Full-Service Restaurants
NAICS code 722511
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age:
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near Charlotte
In the Charlotte area, 100 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 37 employees (compared to this company's 500) and received an average PPP loan of $215,081 (compared to this company's $4.57M).
Similar Nearby Businesses Who Received PPP Funding:
Find Something To DO, LLC
Charlotte, NC
Beaford Inc
Charlotte, NC
Showmars Of North Lake LLC
Charlotte, NC
Stbt Acquisitions Sip LLC
Charlotte, NC
Sunrise Trading Enterprise, Inc
Charlotte, NC
Azteca Mexican Restaurant Inc
Charlotte, NC
Sorto, Inc
Charlotte, NC
Marcardio Liddell
Charlotte, NC
Tryon House Of Woodlawn, Inc
Charlotte, NC
Industry PPP Comparison Statistics
Nationwide, 326,447 businesses in the "Full-Service Restaurants" industry received a total of $42.51B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 5% of the total PPP funding allocated.
PPP recipients in this industry report an average of 22 employees, 96% lower than Aetius Restaurant Holdings LLC's reported 500 employees, and received an average PPP loan of $130,223, 97% lower than this company's loan of $4.57M.
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. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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