PPP Loan Data — Banks Chevrolet-Cadillac, LLC, Concord, NH
Banks Chevrolet-Cadillac, LLC is a limited liability company (LLC) located at 137 Manchester Street in Concord, New Hampshire that received a Coronavirus-related PPP loan from the SBA of $3,431,100.00 in April, 2020.
The company has reported itself as a White female owned business, and employed at least 215 people during the applicable loan loan period.
$ PPP Loan Information
Lender:MERRIMACK COUNTY SAVINGS BANK
Banks Chevrolet-Cadillac, LLC in Concord, NH received a Paycheck Protection Loan of $3.43M through MERRIMACK COUNTY SAVINGS BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Banks Chevrolet-Cadillac, LLC's total 2019 payroll expenses were approximately $16.47M in order to qualify for the PPP loan amount received.
Based on their reported 215 jobs retained, this equals an estimated average yearly compensation of $76,601 per employee1.
Business Information - Banks Chevrolet-Cadillac, LLC in Concord, NH
137 Manchester Street
Concord, NH 03301
New Car Dealers (NAICS code 441110)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: FEMALE OWNED
Veteran Status: NON-VETERANCongressional District: NH-02
Similar Companies near Concord
In the Concord area, 6 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 71 employees (compared to this company's 215) and received an average PPP loan of $1,033,807 (compared to this company's $3.43M).
Similar Nearby Businesses Who Received PPP Funding:
Concord Nissan, Inc.
Alco Motors Inc
ED Reilly Subaru, Inc.
DMO Auto Aquisitions LLC
Bob Mariano Chrysler-Jeep-Dodge, Inc.
Industry PPP Comparison Statistics
Nationwide, 16,570 businesses in the "New Car Dealers" industry received a total of $10,869,996,969.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 47 employees, 78% lower than Banks Chevrolet-Cadillac, LLC's reported 215 employees, and received an average PPP loan of $656,005, 81% lower than this company's loan of $3.43M.
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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