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PPP Loan Data — Global Concessions Inc, Atlanta, GA

SBA PPP loan data, payroll data, and salaries for Global Concessions Inc
GA

Global Concessions Inc

Entity: Corporation

Industry: Full-Service Restaurants

Location: Atlanta, GA

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Global Concessions Inc is a corporation located at Po Box 20905 Airport Facility in Atlanta, Georgia that received a Coronavirus-related PPP loan from the SBA of $2,446,723.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 457 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$2.45M

Jobs Retained:

457

Loan Approved:

2020-04-07

Lender:

FIRST HORIZON BANK

Global Concessions Inc received a Paycheck Protection Loan of $2.45M through FIRST HORIZON BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Global Concessions Inc's total 2019 payroll expenses were approximately $11.74M in order to qualify for the PPP loan amount received.

Based on their reported 457 jobs retained, this equals an estimated average yearly compensation of $25,699 per employee1.

Because the loan received by Global Concessions 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 - Global Concessions Inc in Atlanta, GA

Global Concessions Inc
Po Box 20905 Airport Facility
Atlanta, GA 30320

Business Industry

Full-Service Restaurants (NAICS code 722511)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: GA-05

Similar Companies near Atlanta

In the Atlanta area, 3 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 176 employees (compared to this company's 457) and received an average PPP loan of $1,020,164 (compared to this company's $2.45M).

Industry PPP Comparison Statistics

Nationwide, 175,054 businesses in the "Full-Service Restaurants" industry received a total of $20,426,260,320.00 in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 4% of the total PPP funding allocated.

PPP recipients in this industry report an average of 20 employees, 96% lower than Global Concessions Inc's reported 457 employees, and received an average PPP loan of $116,685, 95% lower than this company's loan of $2.45M.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

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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/global-concessions-inc-atlanta-ga