PPP Loan Data — Twin Lakes Community, Burlington, NC
Twin Lakes Community is a sole proprietorship located at 3701 Wade Coble Dr in Burlington, North Carolina that received a Coronavirus-related PPP loan from the SBA of $2,932,300.00 in April, 2020.
$ PPP Loan Information
Lender:TRUIST BANK D/B/A BRANCH BANKING & TRUST CO
Twin Lakes Community in Burlington, NC received a Paycheck Protection Loan of $2.93M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.
Based on standard PPP eligibility rules, Twin Lakes Community's total 2019 payroll expenses were approximately $14.08M in order to qualify for the PPP loan amount received.
Based on their reported 417 jobs retained, this equals an estimated average yearly compensation of $33,753 per employee1.
Business Information - Twin Lakes Community in Burlington, NC
3701 Wade Coble Dr
Burlington, NC 27215
Continuing Care Retirement Communities (NAICS code 623311)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NC-06
Similar Companies near Burlington
In the Burlington area, 2 businesses in the "Continuing Care Retirement Communities" industry received a PPP loan. These local businesses reported an average of 243 employees (compared to this company's 417) and received an average PPP loan of $1,553,750 (compared to this company's $2.93M).
Similar Nearby Businesses Who Received PPP Funding:
The Oaks Of Alamance LLC
Industry PPP Comparison Statistics
Nationwide, 2,172 businesses in the "Continuing Care Retirement Communities" industry received a total of $1,251,764,538.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 69 employees, 83% lower than Twin Lakes Community's reported 417 employees, and received an average PPP loan of $576,319, 80% lower than this company's loan of $2.93M.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan. All information displayed on this page is publicly available information under PPP loan guidelines, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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