PPP Loan Data — The Presbyterian Home At Charlotte Inc, Charlotte, NC
The Presbyterian Home At Charlotte Inc is a non-profit organization located at 5100 Sharon Rd in Charlotte, North Carolina that received a Coronavirus-related PPP loan from the SBA of $1,647,592.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Truist Bank d/b/a Branch Banking & Trust Co
The Presbyterian Home At Charlotte Inc in Charlotte, NC received a Paycheck Protection Loan of $1.65M through Truist Bank d/b/a Branch Banking & Trust Co, 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 June, 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, The Presbyterian Home At Charlotte Inc's 2019 payroll expenses are estimated to be at least $7.91M.
Based on their reported 324 jobs retained, this equals an estimated average yearly compensation of $24,409 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Presbyterian Home At Charlotte Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,647,592
Business Information - The Presbyterian Home At Charlotte Inc in Charlotte, NC
5100 Sharon Rd
Charlotte, NC 28210
Continuing Care Retirement Communities
NAICS code 623311
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, 2 businesses in the "Continuing Care Retirement Communities" industry received a PPP loan. These local businesses reported an average of 364 employees (compared to this company's 324) and received an average PPP loan of $1,779,719 (compared to this company's $1.65M).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 2,718 businesses in the "Continuing Care Retirement Communities" industry received a total of $1.53B 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 77 employees, 76% lower than The Presbyterian Home At Charlotte Inc's reported 324 employees, and received an average PPP loan of $561,944, 66% lower than this company's loan of $1.65M.
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Footnotes & Information
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