PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Chipton-Ross Staffing, Inc., North Charleston, SC

SBA PPP loan data, payroll data, and salaries for Chipton-Ross Staffing, Inc.
SC

Chipton-Ross Staffing, Inc.

Entity: Corporation

Industry: Employment Placement Agencies

Location: North Charleston, SC

Search All PPP Data

Chipton-Ross Staffing, Inc. is a corporation located at 6926 Rivers Ave in North Charleston, South Carolina that received a Coronavirus-related PPP loan from the SBA of $7,486,512.00 in May, 2020.

$ PPP Loan Information

Loan Size:

$7.49M

Jobs Retained:

476

Loan Approved:

2020-05-01

Lender:

BANK OF AMERICA, NATIONAL ASSOCIATION

Chipton-Ross Staffing, Inc. in North Charleston, SC received a Paycheck Protection Loan of $7.49M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in May, 2020.

Based on standard PPP eligibility rules, Chipton-Ross Staffing, Inc.'s total 2019 payroll expenses were approximately $35.94M in order to qualify for the PPP loan amount received.

Based on their reported 476 jobs retained, this equals an estimated average yearly compensation of $75,494 per employee1.

Because the loan received by Chipton-Ross Staffing, 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 - Chipton-Ross Staffing, Inc. in North Charleston, SC

Chipton-Ross Staffing, Inc.
6926 Rivers Ave
North Charleston, SC 29406

Business Industry

Employment Placement Agencies (NAICS code 561311)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: SC-01

Similar Companies near North Charleston

In the North Charleston area, 4 businesses in the "Employment Placement Agencies" industry received a PPP loan. These local businesses reported an average of 225 employees (compared to this company's 476) and received an average PPP loan of $2,320,466 (compared to this company's $7.49M).

Industry PPP Comparison Statistics

Nationwide, 7,294 businesses in the "Employment Placement Agencies" industry received a total of $2,648,453,106.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 38 employees, 92% lower than Chipton-Ross Staffing, Inc.'s reported 476 employees, and received an average PPP loan of $363,100, 95% lower than this company's loan of $7.49M.

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.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/chipton-ross-staffing-inc-north-charleston-sc