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PPP Loan Data — Charter Foods North, LLC, Morristown, TN

SBA PPP loan data, payroll data, and salaries for Charter Foods North, LLC
TN

Charter Foods North, LLC

Entity: Limited Liability Company (LLC)

Industry: Limited-Service Restaurants

Location: Morristown, TN

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Charter Foods North, LLC is a limited liability company (LLC) located at 1111 Gateway Service Park Rd in Morristown, Tennessee that received a Coronavirus-related PPP loan from the SBA of $6,368,526.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$6.37M

Jobs Retained:

500

Loan Approved:

2020-04-06

Lender:

REGIONS BANK

Charter Foods North, LLC in Morristown, TN received a Paycheck Protection Loan of $6.37M through REGIONS BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Charter Foods North, LLC's total 2019 payroll expenses were approximately $30.57M 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 $61,138 per employee1.

Because the loan received by Charter Foods North, 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 - Charter Foods North, LLC in Morristown, TN

Charter Foods North, LLC
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-01

Similar 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 $6.37M).

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 North, LLC's reported 500 employees, and received an average PPP loan of $120,904, 98% lower than this company's loan of $6.37M.

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.

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/charter-foods-north-llc-morristown-tn