PPP Loan Data — Carolina Restaurant Group, Inc, Charlotte, NC
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
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.
Business Information - Carolina Restaurant Group, Inc in Charlotte, NC
8040 Arrowridge Blvd
Charlotte, NC 28273
Limited-Service Restaurants (NAICS code 722513)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional 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).
Similar Nearby Businesses Who Received PPP Funding:
Scott Foods II, LLC
JM Statesville, LLC
JM 650 Lincoln, LLC
MP3 Pizza Company Inc
JM Lexington 2, LLC
MJM Pizza, LLC
JM Belmont LLC
JM Red Bank, LLC
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.
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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