PPP Loan Data — Dystar LP, Charlotte, NC
Dystar LP is a corporation located at 9844a Southern Pine Blvd. in Charlotte, North Carolina that received a Coronavirus-related PPP loan from the SBA of $2,396,978.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Wells Fargo Bank, National Association
Dystar LP in Charlotte, NC received a Paycheck Protection Loan of $2.4M through Wells Fargo Bank, National Association, which was approved in May, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in December, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Dystar LP's 2019 payroll expenses are estimated to be at least $11.51M.
Based on their reported 355 jobs retained, this equals an estimated average yearly compensation of $32,410 per employee1
Reported PPP Proceed Usage:
On the PPP application, Dystar LP reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,396,978
Business Information - Dystar LP in Charlotte, NC
9844a Southern Pine Blvd.
Charlotte, NC 28273
Other Basic Inorganic Chemical Manufacturing
NAICS code 325180
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 471 businesses in the "Other Basic Inorganic Chemical Manufacturing" industry received a total of $150.04M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 24 employees, 93% lower than Dystar LP's reported 355 employees, and received an average PPP loan of $318,563, 87% lower than this company's loan of $2.4M.
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Footnotes & Information
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