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PPP Loan Data — Bill Walsh Chevrolet-Cadillac, Inc., Ottawa, IL

SBA PPP loan data, payroll data, and salaries for Bill Walsh Chevrolet-Cadillac, Inc.
IL

Bill Walsh Chevrolet-Cadillac, Inc.

Entity: Corporation

Industry: New Car Dealers

Location: Ottawa, IL

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Bill Walsh Chevrolet-Cadillac, Inc. is a corporation located at 1752 E Norris Dr in Ottawa, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,834,200.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 242 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$2.83M

Jobs Retained:

242

Loan Approved:

2020-04-06

Lender:

THE FIRST NATIONAL BANK OF OTTAWA

Bill Walsh Chevrolet-Cadillac, Inc. in Ottawa, IL received a Paycheck Protection Loan of $2.83M through THE FIRST NATIONAL BANK OF OTTAWA, which was approved in April, 2020.

Based on standard PPP eligibility rules, Bill Walsh Chevrolet-Cadillac, Inc.'s total 2019 payroll expenses were approximately $13.6M in order to qualify for the PPP loan amount received.

Based on their reported 242 jobs retained, this equals an estimated average yearly compensation of $56,216 per employee1.

Because the loan received by Bill Walsh Chevrolet-Cadillac, Inc. 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 - Bill Walsh Chevrolet-Cadillac, Inc. in Ottawa, IL

Bill Walsh Chevrolet-Cadillac, Inc.
1752 E Norris Dr
Ottawa, IL 61350

Business Industry

New Car Dealers (NAICS code 441110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: IL-16

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, 81% lower than Bill Walsh Chevrolet-Cadillac, Inc.'s reported 242 employees, and received an average PPP loan of $656,005, 77% lower than this company's loan of $2.83M.

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.

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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/bill-walsh-chevrolet-cadillac-inc-ottawa-il