MCANGUS GOUDELOCK COURIE, LLC
PPP Loan approved Jul 29, 2020 through First Palmetto Bank
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $6,483,450.00 | 75.0% |
| Mortgage Interest | $2,161,150.00 | 25.0% |
About This Loan
MCANGUS GOUDELOCK COURIE, LLC received a PPP loan of $8,644,600 approved on Jul 29, 2020. The loan was originated by First Palmetto Bank.
MCANGUS GOUDELOCK COURIE, LLC is a limited liability company(llc) located in COLUMBIA, South Carolina. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Legal Services industry (NAICS 541110), part of the Professional, Scientific, and Technical Services sector of the economy. The applicant reported 500 jobs as retained through this loan.
The SBA forgave $8,727,444.08 of this loan — 101.0% of the total approved amount, with forgiveness recorded on Jul 16, 2021. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.
According to the SBA's records, the proceeds of this loan were allocated as follows: $6,483,450 to payroll, $2,161,150 to mortgage interest. The payroll component represents 75.0% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in South Carolina, visit the South Carolina page. To compare this loan with others in the same industry, see the Legal Services industry page.