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PPP Loan Data — Heritage Encon Group Incorporated,
Charlotte, NC
Heritage Encon Group Incorporated
Entity: Employee Stock Ownership Plan (esop)
Industry: Commercial and Institutional Building Construction
Location: Charlotte, NC
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Heritage Encon Group Incorporated is an employee stock ownership plan (esop) located at 8230 Wilkinson Blvd in Charlotte, North Carolina that received a Coronavirus-related PPP loan from the SBA of $2,518,200.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 336 people during the applicable loan loan period.
$ PPP Loan Information
Loan Size:
Jobs Retained:
336Loan Approved:
2020-04-13Lender:
TRUIST BANK D/B/A BRANCH BANKING & TRUST COHeritage Encon Group Incorporated in Charlotte, NC received a Paycheck Protection Loan of $2.52M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.
Based on standard PPP eligibility rules, Heritage Encon Group Incorporated's total 2019 payroll expenses were approximately $12.09M in order to qualify for the PPP loan amount received.
Based on their reported 336 jobs retained, this equals an estimated average yearly compensation of $35,974 per employee1.
Business Information - Heritage Encon Group Incorporated in Charlotte, NC
8230 Wilkinson Blvd
Charlotte, NC 28214
Business Industry
Commercial and Institutional Building Construction (NAICS code 236220)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: Unreported
Congressional District: NC-12Similar Companies near Charlotte
In the Charlotte area, 15 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 336) and received an average PPP loan of $241,217 (compared to this company's $2.52M).
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Industry PPP Comparison Statistics
Nationwide, 39,925 businesses in the "Commercial and Institutional Building Construction" industry received a total of $8,114,153,480.00 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 13 employees, 96% lower than Heritage Encon Group Incorporated's reported 336 employees, and received an average PPP loan of $203,235, 92% lower than this company's loan of $2.52M.
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, and is published unmodified, as provided by the SBA.
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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