PPP Loan Data — Two Hawk Employment Serv, Lumberton, NC
Two Hawk Employment Serv is a corporation located at 118 W 5th St in Lumberton, North Carolina that received a Coronavirus-related PPP loan from the SBA of $4,329,200.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 500 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Two Hawk Employment Serv in Lumberton, NC received a Paycheck Protection Loan of $4.33M through Pinnacle Bank, 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 July, 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, Two Hawk Employment Serv's 2019 payroll expenses are estimated to be at least $20.78M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $41,560 per employee1
Reported PPP Proceed Usage:
On the PPP application, Two Hawk Employment Serv reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,329,200
Business Information - Two Hawk Employment Serv in Lumberton, NC
118 W 5th St
Lumberton, NC 28358
Temporary Help Services
NAICS code 561320
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Lumberton
In the Lumberton area, 2 businesses in the "Temporary Help Services" industry received a PPP loan. These local businesses reported an average of 262 employees (compared to this company's 500) and received an average PPP loan of $2,240,950 (compared to this company's $4.33M).
Similar Nearby Businesses Who Received PPP Funding:
The Staffing Alliance, LLC
Industry PPP Comparison Statistics
Nationwide, 8,904 businesses in the "Temporary Help Services" industry received a total of $3.65B 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 51 employees, 90% lower than Two Hawk Employment Serv's reported 500 employees, and received an average PPP loan of $409,706, 91% lower than this company's loan of $4.33M.
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Footnotes & Information
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