PPP Loan Data — Tarheel Bar-B-Q, Inc, Eure, NC
Tarheel Bar-B-Q, Inc is a corporation located at 9 Us 13 South in Eure, North Carolina that received a Coronavirus-related PPP loan from the SBA of $45,900.00 in April, 2020.
The company has reported itself as a female owned business, and employed at least 23 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Southern Bank and Trust Company
Tarheel Bar-B-Q, Inc in Eure, NC received a Paycheck Protection Loan of $45,900 through Southern Bank and Trust Company, 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
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, Tarheel Bar-B-Q, Inc's 2019 payroll expenses are estimated to be at least $220,320.
Based on their reported 23 jobs retained, this equals an estimated average yearly compensation of $9,579 per employee1
Reported PPP Proceed Usage:
On the PPP application, Tarheel Bar-B-Q, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,900
Business Information - Tarheel Bar-B-Q, Inc in Eure, NC
9 Us 13 South
Eure, NC 27935
NAICS code 722511
Business Owner Demographics
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Eure
In the Eure area, 4 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 23) and received an average PPP loan of $41,758 (compared to this company's $45,900).
Similar Nearby Businesses Who Received PPP Funding:
Hatteras Fish Co LLC
The Gingerbread House
Industry PPP Comparison Statistics
PPP recipients in this industry report an average of 22 employees, 4% lower than Tarheel Bar-B-Q, Inc's reported 23 employees, and received an average PPP loan of $129,504, 182% higher than this company's loan of $45,900.
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Footnotes & Information
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