PPP Loan Data — Oak Grove Technologies, LLC, Raleigh, NC
Oak Grove Technologies, LLC
Entity: Limited Liability Company (LLC)
Location: Raleigh, NCTweet This • Search All PPP Data
Oak Grove Technologies, LLC is a limited liability company (LLC) located at 4131 Parklake Ave Suite 100 in Raleigh, North Carolina that received a Coronavirus-related PPP loan from the SBA of $3,202,900.00 in April, 2020.
$ PPP Loan Information
Lender:ATLANTIC UNION BANK
Oak Grove Technologies, LLC received a Paycheck Protection Loan of $3.2M through ATLANTIC UNION BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Oak Grove Technologies, LLC's total 2019 payroll expenses were approximately $15.37M in order to qualify for the PPP loan amount received.
Based on their reported 286 jobs retained, this equals an estimated average yearly compensation of $53,755 per employee1.
Business Information - Oak Grove Technologies, LLC in Raleigh, NC
4131 Parklake Ave Suite 100
Raleigh, NC 27612
Administrative Management and General Management Consulting Services (NAICS code 541611)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NC-04
Similar Companies near Raleigh
In the Raleigh area, 17 businesses in the "Administrative Management and General Management Consulting Services" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 286) and received an average PPP loan of $237,593 (compared to this company's $3.2M).
Similar Nearby Businesses Who Received PPP Funding:
Kratt Dedmond & Associates, PLLC
L.A. Harris & Associates, Inc.
Learning Technologies, Inc.
Life Enrichment Resources, LLC
The Special Event Company
Family Life Resources, Inc.
Alternative X Group Inc
Industry PPP Comparison Statistics
Nationwide, 42,814 businesses in the "Administrative Management and General Management Consulting Services" industry received a total of $3,692,368,152.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 6 employees, 98% lower than Oak Grove Technologies, LLC's reported 286 employees, and received an average PPP loan of $86,242, 97% lower than this company's loan of $3.2M.
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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