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PPP Loan Data — Carolina Restaurant Group, Inc, Charlotte, NC

SBA PPP loan data, payroll data, and salaries for Carolina Restaurant Group, Inc
NC

Carolina Restaurant Group, Inc

Entity: Corporation

Industry: Limited-Service Restaurants

Location: Charlotte, NC

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Carolina Restaurant Group, Inc is a corporation located at 8040 Arrowridge Blvd in Charlotte, North Carolina that received a Coronavirus-related PPP loan from the SBA of $10,000,000.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 500 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$10M

Jobs Retained:

500

Loan Approved:

2020-04-15

Lender:

THE HUNTINGTON NATIONAL BANK

Carolina Restaurant Group, Inc in Charlotte, NC received a Paycheck Protection Loan of $10M through THE HUNTINGTON NATIONAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Carolina Restaurant Group, Inc's total 2019 payroll expenses were approximately $48M 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 $96,000 per employee1.

Because the loan received by Carolina Restaurant Group, 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 - Carolina Restaurant Group, Inc in Charlotte, NC

Carolina Restaurant Group, Inc
8040 Arrowridge Blvd
Charlotte, NC 28273

Business Industry

Limited-Service Restaurants (NAICS code 722513)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: NC-12

Similar Companies near Charlotte

In the Charlotte area, 31 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 65 employees (compared to this company's 500) and received an average PPP loan of $556,115 (compared to this company's $10M).

Industry PPP Comparison Statistics

Nationwide, 79,996 businesses in the "Limited-Service Restaurants" industry received a total of $9,671,819,152.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 23 employees, 95% lower than Carolina Restaurant Group, Inc's reported 500 employees, and received an average PPP loan of $120,904, 99% lower than this company's loan of $10M.

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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Source: www.federalpay.org/paycheck-protection-program/carolina-restaurant-group-inc-charlotte-nc