PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Bgac LLC, Adairsville, GA

ALERT: There are 2 PPP loans for a total of $4.27M in our database for businesses with the name "Bgac LLC" in Adairsville, GA. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Bgac LLC
GA

Bgac LLC

Entity: Limited Liability Company (LLC)

Industry: Hotels (except Casino Hotels) and Motels

Location: Adairsville, GA

Search All PPP Data

Bgac LLC is a limited liability company (LLC) located at 597 Barnsley Garden Rd Nw in Adairsville, Georgia that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in May, 2021.

$ PPP Loan Information
Loan #2795719000

Loan Size:

$2M

Jobs Retained:

228

Loan Approved:

2021-05-18

Loan Status:

Ongoing Loan

Lender:

Bank OZK

Bgac LLC in Adairsville, GA received a Paycheck Protection Loan of $2M through Bank OZK, which was approved in May, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

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 More
Understanding 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 More

Based 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, Bgac LLC's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 228 jobs retained, this equals an estimated average yearly compensation of $42,105 per employee1

Reported PPP Proceed Usage:

On the PPP application, Bgac LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,998
  • Utilities: $1
Because the loan received by Bgac LLC 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 - Bgac LLC in Adairsville, GA

Bgac LLC
597 Barnsley Garden Rd Nw
Adairsville, GA 30103

Business Industry:
Hotels (except Casino Hotels) and Motels
NAICS code 721110

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: Rural

Bartow County, GA — SBA Office 0405 — Congressional District: GA-11

Similar Companies near Adairsville

In the Adairsville area, 15 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 45 employees (compared to this company's 228) and received an average PPP loan of $341,359 (compared to this company's $2M).

Industry PPP Comparison Statistics

Nationwide, 82,605 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13.95B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.

PPP recipients in this industry report an average of 23 employees, 90% lower than Bgac LLC's reported 228 employees, and received an average PPP loan of $168,829, 92% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Bgac, LLC
GA

Bgac, LLC

Entity: Limited Liability Company (LLC)

Industry: Hotels (except Casino Hotels) and Motels

Location: Adairsville, GA

Search All PPP Data

Bgac, LLC is a limited liability company (LLC) located at 597 Barnsley Gardens Rd. in Adairsville, Georgia that received a Coronavirus-related PPP loan from the SBA of $2,270,600.00 in April, 2020.

$ PPP Loan Information
Loan #4472437110

Loan Size:

$2.27M

Jobs Retained:

265

Loan Approved:

2020-04-13

Loan Status:

Ongoing Loan

Lender:

Bank OZK

Bgac, LLC in Adairsville, GA received a Paycheck Protection Loan of $2.27M through Bank OZK, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

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 More
Understanding 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 More

Based 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, Bgac, LLC's 2019 payroll expenses are estimated to be at least $10.9M.

Based on their reported 265 jobs retained, this equals an estimated average yearly compensation of $41,128 per employee1

Reported PPP Proceed Usage:

On the PPP application, Bgac, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,270,600
Because the loan received by Bgac, LLC 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 - Bgac, LLC in Adairsville, GA

Bgac, LLC
597 Barnsley Gardens Rd.
Adairsville, GA 30103

Business Industry:
Hotels (except Casino Hotels) and Motels
NAICS code 721110

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: N

HUBZone: N

Rural / Urban: Rural

Bartow County, GA — SBA Office 0405 — Congressional District: GA-11

Similar Companies near Adairsville

In the Adairsville area, 15 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 45 employees (compared to this company's 265) and received an average PPP loan of $341,359 (compared to this company's $2.27M).

Industry PPP Comparison Statistics

Nationwide, 82,605 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13.95B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.

PPP recipients in this industry report an average of 23 employees, 91% lower than Bgac, LLC's reported 265 employees, and received an average PPP loan of $168,829, 93% lower than this company's loan of $2.27M.

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/bgac-llc-adairsville-ga