Albemarle, NC — PPP Loan Data
568 loans · $50.2M total · 95.2% forgiven
Albemarle, North Carolina received 568 Paycheck Protection Program loans totaling $50.2M. The average loan in the city was $88,327 — above the national program average of approximately $67,000.
95.2% of loans in Albemarle — totaling $50.1M — received SBA forgiveness. Forgiveness required borrowers to demonstrate that funds were used for qualifying expenses and that they maintained employee headcount and compensation levels during the covered period.
Among the largest disclosed recipients in Albemarle were MONARCH ($10,000,000), J. T. RUSSELL AND SONS INCORPORATED ($1,767,595), and GHA AUTISM SUPPORTS ($1,731,848).
The most active industry sector in Albemarle was Accommodation and Food Services with 43 loans worth $2.7M, followed by Personal Care Services (41 loans).
Applicants in Albemarle reported retaining 6,670 jobs through the program. These figures are self-reported and were not independently verified by the SBA. The majority of loans in this city — those under $150,000 — have borrower names withheld under FOIA Exemption 6.
Albemarle is part of North Carolina, which received a total of thousands of PPP loans during the program period. City-level data is based on the borrower's self-reported city name; some variation in spelling may cause minor undercounting. See the methodology page for more detail on data limitations.
Top Industries in Albemarle
| Industry | Loans | Total Approved | Forgiveness Rate |
|---|---|---|---|
| Accommodation and Food ServicesNAICS 7225 | 43 | $2.7M | 97.7% |
| Personal Care ServicesNAICS 8121 | 41 | $484,729 | 87.8% |
| Automotive Repair and MaintenanceNAICS 8111 | 21 | $772,449 | 100.0% |
| Religious OrganizationsNAICS 8131 | 19 | $429,631 | 89.5% |
| Services to Buildings and DwellingsNAICS 5617 | 19 | $323,354 | 89.5% |
| Accounting, Tax Preparation, Bookkeeping, and Payroll ServicesNAICS 5412 | 14 | $560,782 | 100.0% |
| Legal ServicesNAICS 5411 | 14 | $352,964 | 100.0% |
| Agencies, Brokerages, and Other Insurance Related ActivitiesNAICS 5242 | 13 | $285,156 | 100.0% |
| Automobile DealersNAICS 4411 | 13 | $2.6M | 100.0% |
| Traveler AccommodationNAICS 7211 | 11 | $374,082 | 100.0% |
Largest Named Recipients in Albemarle
Only loans ≥ $150,000 have publicly disclosed borrower names.