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

PPP Loan Data — Gold China Buffet LLC, North Charleston, SC

ALERT: There are 2 PPP loans for a total of $181,074 in our database for businesses with the name "Gold China Buffet LLC" in North Charleston, SC. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Gold China Buffet LLC
SC

Gold China Buffet LLC

Entity: Limited Liability Company (LLC)

Industry: Cafeterias, Grill Buffets, and Buffets

Location: North Charleston, SC

Search All PPP Data

Gold China Buffet LLC is a limited liability company (LLC) located at 7800 Rivers Ave Ste 1850 in North Charleston, South Carolina that received a Coronavirus-related PPP loan from the SBA of $105,626.00 in February, 2021.

$ PPP Loan Information
Loan #2366198506

Loan Size:

$105,626

Jobs Retained:

8

Loan Approved:

2021-02-20

Loan Status:

Ongoing Loan

Lender:

Bank of America, National Association

Gold China Buffet LLC in North Charleston, SC received a Paycheck Protection Loan of $105,626 through Bank of America, National Association, which was approved in February, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Gold China Buffet LLC's 2019 payroll expenses are estimated to be at least $507,005.

Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $63,376 per employee1

Reported PPP Proceed Usage:

On the PPP application, Gold China Buffet LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $105,624
  • Utilities: $1

Business Information - Gold China Buffet LLC in North Charleston, SC

Gold China Buffet LLC
7800 Rivers Ave Ste 1850
North Charleston, SC 29406

Business Industry:
Cafeterias, Grill Buffets, and Buffets
NAICS code 722514

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Charleston County, SC — SBA Office 0464 — Congressional District: SC-01

Similar Companies near North Charleston

In the North Charleston area, 3 businesses in the "Cafeterias, Grill Buffets, and Buffets" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 8) and received an average PPP loan of $60,726 (compared to this company's $105,626).

Industry PPP Comparison Statistics

Nationwide, 4,836 businesses in the "Cafeterias, Grill Buffets, and Buffets" industry received a total of $371.67M 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 14 employees, 75% higher than Gold China Buffet LLC's reported 8 employees, and received an average PPP loan of $76,855, 27% lower than this company's loan of $105,626.

SBA PPP loan data, payroll data, and salaries for Gold China Buffet LLC
SC

Gold China Buffet LLC

Entity: Limited Liability Company (LLC)

Industry: Limited-Service Restaurants

Location: North Charleston, SC

Search All PPP Data

Gold China Buffet LLC is a limited liability company (LLC) located at 7800 Rivers Ave Ste 1850 in North Charleston, South Carolina that received a Coronavirus-related PPP loan from the SBA of $75,448.00 in April, 2020.

$ PPP Loan Information
Loan #5833097301

Loan Size:

$75,448

Jobs Retained:

19

Loan Approved:

2020-04-30

Loan Status:

Ongoing Loan

Lender:

Bank of America, National Association

Gold China Buffet LLC in North Charleston, SC received a Paycheck Protection Loan of $75,448 through Bank of America, National Association, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Gold China Buffet LLC's 2019 payroll expenses are estimated to be at least $362,150.

Based on their reported 19 jobs retained, this equals an estimated average yearly compensation of $19,061 per employee1

Reported PPP Proceed Usage:

On the PPP application, Gold China Buffet LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $75,448

Business Information - Gold China Buffet LLC in North Charleston, SC

Gold China Buffet LLC
7800 Rivers Ave Ste 1850
North Charleston, SC 29406

Business Industry:
Limited-Service Restaurants
NAICS code 722513

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Charleston County, SC — SBA Office 0464 — Congressional District: SC-01

Similar Companies near North Charleston

In the North Charleston area, 69 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 34 employees (compared to this company's 19) and received an average PPP loan of $156,179 (compared to this company's $75,448).

Industry PPP Comparison Statistics

Nationwide, 127,949 businesses in the "Limited-Service Restaurants" industry received a total of $13.48B 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 22 employees, 16% higher than Gold China Buffet LLC's reported 19 employees, and received an average PPP loan of $105,388, 40% higher than this company's loan of $75,448.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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/gold-china-buffet-llc-north-charleston-sc