Golden Corral in Charlotte, NC - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — Golden Corral, Charlotte, NC

Golden Corral

Entity: Limited Liability Company (LLC)

Industry: Cafeterias, Grill Buffets, and Buffets

Location: Charlotte, NC

Golden Corral is a limited liability company (LLC) located at 714 Royal Ct in Charlotte, North Carolina that received a Coronavirus-related PPP loan from the SBA of $3,250,100.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 500 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$3.25M

Jobs Retained:

500

Loan Approved:

2020-04-09

Lender:

TRUIST BANK D/B/A BRANCH BANKING & TRUST CO

Golden Corral received a Paycheck Protection Loan of $3.25M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.

Based on standard PPP eligibility rules, Golden Corral's total 2019 payroll expenses were approximately $15.6M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $31,201 per employee¹.

Because the loan received by Golden Corral 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 - Golden Corral in Charlotte, NC

Golden Corral
714 Royal Ct
Charlotte, NC 28202

Business Industry

Cafeterias, Grill Buffets, and Buffets (NAICS code 722514)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: NC-12

Industry PPP Comparison Statistics

Nationwide, 2,424 businesses in the "Cafeterias, Grill Buffets, and Buffets" industry received a total of $166,071,594.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 14 employees, 97% lower than Golden Corral's reported 500 employees, and received an average PPP loan of $68,511, 98% lower than this company's loan of $3.25M.

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.

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.

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