PPP Loan Data — The Strack Corporation, Charlotte, NC
The Strack Corporation is a corporation located at 6008 Old Pinville Rd Suite C in Charlotte, North Carolina that received a Coronavirus-related PPP loan from the SBA of $24,985.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
The Strack Corporation in Charlotte, NC received a Paycheck Protection Loan of $24,985 through WebBank, which was approved in May, 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, The Strack Corporation's 2019 payroll expenses are estimated to be at least $119,928.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $19,988 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Strack Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,985
Business Information - The Strack Corporation in Charlotte, NC
6008 Old Pinville Rd Suite C
Charlotte, NC 28217
Carpet and Upholstery Cleaning Services
NAICS code 561740
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, 27 businesses in the "Carpet and Upholstery Cleaning Services" industry received a PPP loan. These local businesses reported an average of 21 employees (compared to this company's 6) and received an average PPP loan of $199,869 (compared to this company's $24,985).
Similar Nearby Businesses Who Received PPP Funding:
James Byrd DBA Byrd Get Kleen Carpet Cleaning
Piedmont Steam Company, Inc
Commercial Flooring Solutions, Inc
Reupholstery Charlotte, LLC
Relentless Cleaning Service
Benjie Henighan Jr
Industry PPP Comparison Statistics
Nationwide, 26,933 businesses in the "Carpet and Upholstery Cleaning Services" industry received a total of $681.26M 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 3 employees, 50% lower than The Strack Corporation's reported 6 employees, and received an average PPP loan of $25,295, 1% higher than this company's loan of $24,985.
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Footnotes & Information
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