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PPP Loan Data — Workforce Unlimited, LLC, Mount Airy, NC

SBA PPP loan data, payroll data, and salaries for Workforce Unlimited, LLC
NC

Workforce Unlimited, LLC

Entity: Limited Liability Company (LLC)

Industry: Employment Placement Agencies

Location: Mount Airy, NC

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Workforce Unlimited, LLC is a limited liability company (LLC) located at 1908 Caudle Dr #200 in Mount Airy, North Carolina that received a Coronavirus-related PPP loan from the SBA of $8,289,668.00 in July, 2020.

$ PPP Loan Information

Loan Size:

$8.29M

Jobs Retained:

500

Loan Approved:

2020-07-22

Lender:

TRUIST BANK D/B/A BRANCH BANKING & TRUST CO

Workforce Unlimited, LLC received a Paycheck Protection Loan of $8.29M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in July, 2020.

Based on standard PPP eligibility rules, Workforce Unlimited, LLC's total 2019 payroll expenses were approximately $39.79M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $79,581 per employee1.

Because the loan received by Workforce Unlimited, LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Workforce Unlimited, LLC in Mount Airy, NC

Workforce Unlimited, LLC
1908 Caudle Dr #200
Mount Airy, NC 27030

Business Industry

Employment Placement Agencies (NAICS code 561311)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NC-05

Similar Companies near Mount Airy

In the Mount Airy area, 2 businesses in the "Employment Placement Agencies" industry received a PPP loan. These local businesses reported an average of 263 employees (compared to this company's 500) and received an average PPP loan of $4,330,437 (compared to this company's $8.29M).

Similar Nearby Businesses Who Received PPP Funding:

Arevo Group Inc
Mount Airy, NC

$371,206 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 7,294 businesses in the "Employment Placement Agencies" industry received a total of $2,648,453,106.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 38 employees, 92% lower than Workforce Unlimited, LLC's reported 500 employees, and received an average PPP loan of $363,100, 96% lower than this company's loan of $8.29M.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/workforce-unlimited-llc-mount-airy-nc