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PPP Loan Data — Cherokee Distributing Company, Inc., Knoxville, TN

SBA PPP loan data, payroll data, and salaries for Cherokee Distributing Company, Inc.
TN

Cherokee Distributing Company, Inc.

Entity: Corporation

Industry: Beer and Ale Merchant Wholesalers

Location: Knoxville, TN

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Cherokee Distributing Company, Inc. is a corporation located at 200 Miller Main Circle in Knoxville, Tennessee that received a Coronavirus-related PPP loan from the SBA of $4,921,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.92M

Jobs Retained:

403

Loan Approved:

2020-04-12

Lender:

REGIONS BANK

Cherokee Distributing Company, Inc. in Knoxville, TN received a Paycheck Protection Loan of $4.92M through REGIONS BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Cherokee Distributing Company, Inc.'s total 2019 payroll expenses were approximately $23.62M in order to qualify for the PPP loan amount received.

Based on their reported 403 jobs retained, this equals an estimated average yearly compensation of $58,612 per employee1.

Because the loan received by Cherokee Distributing Company, 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 - Cherokee Distributing Company, Inc. in Knoxville, TN

Cherokee Distributing Company, Inc.
200 Miller Main Circle
Knoxville, TN 37919

Business Industry

Beer and Ale Merchant Wholesalers (NAICS code 424810)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: TN-02

Industry PPP Comparison Statistics

Nationwide, 1,103 businesses in the "Beer and Ale Merchant Wholesalers" industry received a total of $586,037,858.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 43 employees, 89% lower than Cherokee Distributing Company, Inc.'s reported 403 employees, and received an average PPP loan of $531,313, 89% lower than this company's loan of $4.92M.

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/cherokee-distributing-company-inc-knoxville-tn