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PPP Loan Data — Oak Grove Technologies, LLC, Raleigh, NC

SBA PPP loan data, payroll data, and salaries for Oak Grove Technologies, LLC
NC

Oak Grove Technologies, LLC

Entity: Limited Liability Company (LLC)

Industry: Administrative Management and General Management Consulting Services

Location: Raleigh, NC

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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

Loan Size:

$3.2M

Jobs Retained:

286

Loan Approved:

2020-04-06

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.

Because the loan received by Oak Grove Technologies, LLC 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 - Oak Grove Technologies, LLC in Raleigh, NC

Oak Grove Technologies, LLC
4131 Parklake Ave Suite 100
Raleigh, NC 27612

Business Industry

Administrative Management and General Management Consulting Services (NAICS code 541611)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional 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).

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.

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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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Source: www.federalpay.org/paycheck-protection-program/oak-grove-technologies-llc-raleigh-nc