PPP Loan Data — Property Redevelopment Group LLC, Charlotte, NC
Property Redevelopment Group LLC
Entity: Limited Liability Company (LLC)
Location: Charlotte, NCTweet This • Search All PPP Data
Property Redevelopment Group LLC is a limited liability company (LLC) located at 5009 Monroe Rd Ste 201 in Charlotte, North Carolina that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Wells Fargo Bank, National Association
Property Redevelopment Group LLC in Charlotte, NC received a Paycheck Protection Loan of $25,000 through Wells Fargo Bank, National Association, which was approved in May, 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 May, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Property Redevelopment Group LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Property Redevelopment Group LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Property Redevelopment Group LLC in Charlotte, NC
5009 Monroe Rd Ste 201
Charlotte, NC 28205
Lessors of Nonresidential Buildings (except Miniwarehouses)
NAICS code 531120
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Charlotte
In the Charlotte area, 12 businesses in the "Lessors of Nonresidential Buildings (except Miniwarehouses)" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 2) and received an average PPP loan of $100,469 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Advent Coworking, LLC
DPR Associates, Inc
Shultz Engineering Group PC
Primax Properties LLC
Preferred Printing Services, Inc
RC Specialties, Inc
Seymour Properties, Inc
Industry PPP Comparison Statistics
Nationwide, 19,255 businesses in the "Lessors of Nonresidential Buildings (except Miniwarehouses)" industry received a total of $1.72B 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 10 employees, 400% higher than Property Redevelopment Group LLC's reported 2 employees, and received an average PPP loan of $89,367, 257% higher than this company's loan of $25,000.
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