PPP Loan Data — G.c.g.c. Fair Corp, Great Mills, MD
G.c.g.c. Fair Corp is a subchapter s corporation located at 20210 Point Lookout Rd in Great Mills, Maryland that received a Coronavirus-related PPP loan from the SBA of $2,042,800.00 in April, 2020. This business is a McDonalds franchise.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Truist Bank d/b/a Branch Banking & Trust Co
G.c.g.c. Fair Corp in Great Mills, MD received a Paycheck Protection Loan of $2.04M through Truist Bank d/b/a Branch Banking & Trust Co, which was approved in April, 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, G.c.g.c. Fair Corp's 2019 payroll expenses are estimated to be at least $9.81M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $19,611 per employee1
Reported PPP Proceed Usage:
On the PPP application, G.c.g.c. Fair Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,042,800
Business Information - G.c.g.c. Fair Corp in Great Mills, MD
20210 Point Lookout Rd
Great Mills, MD 20634
NAICS code 722513
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 137,629 businesses in the "Limited-Service Restaurants" industry received a total of $13.9B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 21 employees, 96% lower than G.c.g.c. Fair Corp's reported 500 employees, and received an average PPP loan of $100,980, 95% lower than this company's loan of $2.04M.
FederalPay's PPP Information Policy
Footnotes & Information
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