PPP Loan Data — Hoopaugh Grading Company LLC, Charlotte, NC
Hoopaugh Grading Company LLC is a limited liability company (LLC) located at 303 Forsyth Hall Dr in Charlotte, North Carolina that received a Coronavirus-related PPP loan from the SBA of $5,296,251.00 in April, 2020.
$ PPP Loan Information
Lender:TRUIST BANK D/B/A BRANCH BANKING & TRUST CO
Hoopaugh Grading Company LLC received a Paycheck Protection Loan of $5.3M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.
Based on standard PPP eligibility rules, Hoopaugh Grading Company LLC's total 2019 payroll expenses were approximately $25.42M in order to qualify for the PPP loan amount received.
Based on their reported 472 jobs retained, this equals an estimated average yearly compensation of $53,860 per employee1.
Business Information - Hoopaugh Grading Company LLC in Charlotte, NC
303 Forsyth Hall Dr
Charlotte, NC 28273
Site Preparation Contractors (NAICS code 238910)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NC-12
Similar Companies near Charlotte
In the Charlotte area, 3 businesses in the "Site Preparation Contractors" industry received a PPP loan. These local businesses reported an average of 177 employees (compared to this company's 472) and received an average PPP loan of $1,942,951 (compared to this company's $5.3M).
Similar Nearby Businesses Who Received PPP Funding:
Blue Tech Construction Inc
Guy M Beaty Inc
Industry PPP Comparison Statistics
Nationwide, 17,653 businesses in the "Site Preparation Contractors" industry received a total of $2,959,828,729.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 12 employees, 97% lower than Hoopaugh Grading Company LLC's reported 472 employees, and received an average PPP loan of $167,667, 97% lower than this company's loan of $5.3M.
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.
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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