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

PPP Loan Data — Hudson Charleston Acquisition, LLC, North Charleston, SC

SBA PPP loan data, payroll data, and salaries for Hudson Charleston Acquisition, LLC

FRANCHISE

SC

Hudson Charleston Acquisition, LLC

Entity: Limited Liability Company (LLC)

Industry: New Car Dealers

Franchise: Nissan North America, Inc. - Dealer Sales and Service Agreement

Location: North Charleston, SC

Search All PPP Data

Hudson Charleston Acquisition, LLC is a limited liability company (LLC) located at 7331 Rivers Ave in North Charleston, South Carolina that received a Coronavirus-related PPP loan from the SBA of $1,340,300.00 in April, 2020. This business is a Nissan North America, Inc. - Dealer Sales and Service Agreement franchise.

$ PPP Loan Information
Loan #5133727005

Loan Size:

$1.34M

Jobs Retained:

93

Loan Approved:

2020-04-05

Loan Status:

Paid in Full or Forgiven

Lender:

United Bank

Hudson Charleston Acquisition, LLC in North Charleston, SC received a Paycheck Protection Loan of $1.34M through United Bank, which was approved in April, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in January, 2021.

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, Hudson Charleston Acquisition, LLC's 2019 payroll expenses are estimated to be at least $6.43M.

Based on their reported 93 jobs retained, this equals an estimated average yearly compensation of $69,177 per employee1

Reported PPP Proceed Usage:

On the PPP application, Hudson Charleston Acquisition, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,340,300

Business Information - Hudson Charleston Acquisition, LLC in North Charleston, SC

Hudson Charleston Acquisition, LLC
7331 Rivers Ave
North Charleston, SC 29406

Business Industry:
New Car Dealers
NAICS code 441110

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: Y

HUBZone: Y

Rural / Urban: Urban

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

Similar Companies near North Charleston

In the North Charleston area, 7 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 80 employees (compared to this company's 93) and received an average PPP loan of $1,184,671 (compared to this company's $1.34M).

Industry PPP Comparison Statistics

Nationwide, 19,844 businesses in the "New Car Dealers" industry received a total of $12.31B 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 52 employees, 44% lower than Hudson Charleston Acquisition, LLC's reported 93 employees, and received an average PPP loan of $620,298, 54% lower than this company's loan of $1.34M.

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/hudson-charleston-acquisition-llc-north-charleston-sc