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PPP Loan Data — Atlantic Coast Dining, Inc, Glen Allen, VA

SBA PPP loan data, payroll data, and salaries for Atlantic Coast Dining, Inc
VA

Atlantic Coast Dining, Inc

Entity: Corporation

Industry: Full-Service Restaurants

Location: Glen Allen, VA

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Atlantic Coast Dining, Inc is a corporation located at 4701 Cox Rd in Glen Allen, Virginia that received a Coronavirus-related PPP loan from the SBA of $5,113,700.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$5.11M

Jobs Retained:

500

Loan Approved:

2020-04-10

Lender:

TRUIST BANK D/B/A BRANCH BANKING & TRUST CO

Atlantic Coast Dining, Inc received a Paycheck Protection Loan of $5.11M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.

Based on standard PPP eligibility rules, Atlantic Coast Dining, Inc's total 2019 payroll expenses were approximately $24.55M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $49,092 per employee1.

Because the loan received by Atlantic Coast Dining, 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 - Atlantic Coast Dining, Inc in Glen Allen, VA

Atlantic Coast Dining, Inc
4701 Cox Rd
Glen Allen, VA 23060

Business Industry

Full-Service Restaurants (NAICS code 722511)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: VA-07

Similar Companies near Glen Allen

In the Glen Allen area, 30 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 500) and received an average PPP loan of $234,019 (compared to this company's $5.11M).

Industry PPP Comparison Statistics

Nationwide, 175,054 businesses in the "Full-Service Restaurants" industry received a total of $20,426,260,320.00 in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 4% of the total PPP funding allocated.

PPP recipients in this industry report an average of 20 employees, 96% lower than Atlantic Coast Dining, Inc's reported 500 employees, and received an average PPP loan of $116,685, 98% lower than this company's loan of $5.11M.

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/atlantic-coast-dining-inc-glen-allen-va