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PPP Loan Data — American Forest Management, Inc., Charlotte, NC

SBA PPP loan data, payroll data, and salaries for American Forest Management, Inc.
NC

American Forest Management, Inc.

Entity: Subchapter S Corporation

Industry: Support Activities for Forestry

Location: Charlotte, NC

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American Forest Management, Inc. is a subchapter s corporation located at 8702 Red Oak Blvd in Charlotte, North Carolina that received a Coronavirus-related PPP loan from the SBA of $4,489,200.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.49M

Jobs Retained:

227

Loan Approved:

2020-04-15

Lender:

ENTERPRISE BANK OF SOUTH CAROLINA

American Forest Management, Inc. in Charlotte, NC received a Paycheck Protection Loan of $4.49M through ENTERPRISE BANK OF SOUTH CAROLINA, which was approved in April, 2020.

Based on standard PPP eligibility rules, American Forest Management, Inc.'s total 2019 payroll expenses were approximately $21.55M in order to qualify for the PPP loan amount received.

Based on their reported 227 jobs retained, this equals an estimated average yearly compensation of $94,926 per employee1.

Because the loan received by American Forest Management, 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 - American Forest Management, Inc. in Charlotte, NC

American Forest Management, Inc.
8702 Red Oak Blvd
Charlotte, NC 28217

Business Industry

Support Activities for Forestry (NAICS code 115310)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NC-12

Industry PPP Comparison Statistics

Nationwide, 1,637 businesses in the "Support Activities for Forestry" industry received a total of $164,468,528.00 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 9 employees, 96% lower than American Forest Management, Inc.'s reported 227 employees, and received an average PPP loan of $100,469, 98% lower than this company's loan of $4.49M.

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, and is published unmodified, as provided by the SBA.

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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/american-forest-management-inc-charlotte-nc