FederalPay.org
PPP Loan Data — Charter Foods, Inc.,
Morristown, TN
Charter Foods, Inc.
Entity: Corporation
Industry: Limited-Service Restaurants
Location: Morristown, TN
Tweet This
•
Search All PPP Data
Charter Foods, Inc. is a corporation located at 1111 Gateway Service Park Rd in Morristown, Tennessee that received a Coronavirus-related PPP loan from the SBA of $8,105,000.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-06Lender:
REGIONS BANKCharter Foods, Inc. received a Paycheck Protection Loan of $8.11M through REGIONS BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Charter Foods, Inc.'s total 2019 payroll expenses were approximately $38.9M 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 $77,808 per employee1.
Business Information - Charter Foods, Inc. in Morristown, TN
1111 Gateway Service Park Rd
Morristown, TN 37813
Business Industry
Limited-Service Restaurants (NAICS code 722513)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: TN-01Similar Companies near Morristown
In the Morristown area, 11 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 161 employees (compared to this company's 500) and received an average PPP loan of $1,992,590 (compared to this company's $8.11M).
Similar Nearby Businesses Who Received PPP Funding:
Charter Foods North, LLC
Morristown, TN
East Tennessee Investments
Morristown, TN
Mohamed Mourad Awad
Morristown, TN
Charter Central, LLC
Morristown, TN
Stay Frosty, Inc.
Morristown, TN
Richard D Martindale
Morristown, TN
Pals Drive Thru #28
Morristown, TN
The Lovin Cup, LLC
Morristown, TN
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 Charter Foods, Inc.'s reported 500 employees, and received an average PPP loan of $120,904, 99% lower than this company's loan of $8.11M.
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.
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.
Have FederalPay.org's open data tools been valuable? Consider donating!