PPP Loan Data — Royal Child Academy Company, Charlotte, NC
Royal Child Academy Company
Location: Charlotte, NCTweet This • Search All PPP Data
Royal Child Academy Company is a corporation located at 6625 Sullins Road in Charlotte, North Carolina that received a Coronavirus-related PPP loan from the SBA of $25,088.00 in June, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Royal Child Academy Company in Charlotte, NC received a Paycheck Protection Loan of $25,088 through Truist Bank d/b/a Branch Banking & Trust Co, which was approved in June, 2020.
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, Royal Child Academy Company's 2019 payroll expenses are estimated to be at least $120,422.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,084 per employee1
Reported PPP Proceed Usage:
On the PPP application, Royal Child Academy Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,088
Business Information - Royal Child Academy Company in Charlotte, NC
6625 Sullins Road
Charlotte, NC 28214
Residential Mental Health and Substance Abuse Facilities
NAICS code 623220
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Charlotte
In the Charlotte area, 7 businesses in the "Residential Mental Health and Substance Abuse Facilities" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 5) and received an average PPP loan of $33,038 (compared to this company's $25,088).
Similar Nearby Businesses Who Received PPP Funding:
Roha Solutions Inc
New Place Inc
Industry PPP Comparison Statistics
Nationwide, 3,600 businesses in the "Residential Mental Health and Substance Abuse Facilities" industry received a total of $1.06B 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 36 employees, 620% higher than Royal Child Academy Company's reported 5 employees, and received an average PPP loan of $295,104, 1076% higher than this company's loan of $25,088.
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