PPP Loan Data — Bennett's On Site Oil Change Inc, Fort Peirce, FL
Bennett's On Site Oil Change Inc is a corporation located at 1224 Raymond Ave in Fort Peirce, Florida that received a Coronavirus-related PPP loan from the SBA of $24,800.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Seacoast National Bank
Bennett's On Site Oil Change Inc in Fort Peirce, FL received a Paycheck Protection Loan of $24,800 through Seacoast National 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 April, 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, Bennett's On Site Oil Change Inc's 2019 payroll expenses are estimated to be at least $119,040.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $59,520 per employee1
Reported PPP Proceed Usage:
On the PPP application, Bennett's On Site Oil Change Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,800
Business Information - Bennett's On Site Oil Change Inc in Fort Peirce, FL
1224 Raymond Ave
Fort Peirce, FL 34950
Automotive Oil Change and Lubrication Shops
NAICS code 811191
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Fort Peirce
In the Fort Peirce area, 2 businesses in the "Automotive Oil Change and Lubrication Shops" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 2) and received an average PPP loan of $23,025 (compared to this company's $24,800).
Similar Nearby Businesses Who Received PPP Funding:
Bennett's On Site Oil Change Inc
Fort Pierce, FL
Industry PPP Comparison Statistics
Nationwide, 4,328 businesses in the "Automotive Oil Change and Lubrication Shops" industry received a total of $297.26M 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 10 employees, 400% higher than Bennett's On Site Oil Change Inc's reported 2 employees, and received an average PPP loan of $68,683, 177% higher than this company's loan of $24,800.
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Footnotes & Information
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