PPP Loan Data — Carsforsale.Com, Inc., Sioux Falls, SD
Carsforsale.Com, Inc. is a corporation located at 2500 S Westlake Dr in Sioux Falls, South Dakota that received a Coronavirus-related PPP loan from the SBA of $2,550,200.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 194 people during the applicable loan loan period.
$ PPP Loan Information
Lender:FIRST DAKOTA NATIONAL BANK
Carsforsale.Com, Inc. in Sioux Falls, SD received a Paycheck Protection Loan of $2.55M through FIRST DAKOTA NATIONAL BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Carsforsale.Com, Inc.'s total 2019 payroll expenses were approximately $12.24M in order to qualify for the PPP loan amount received.
Based on their reported 194 jobs retained, this equals an estimated average yearly compensation of $63,098 per employee1.
Business Information - Carsforsale.Com, Inc. in Sioux Falls, SD
2500 S Westlake Dr
Sioux Falls, SD 57106
Other Services Related to Advertising (NAICS code 541890)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: SD-
Similar Companies near Sioux Falls
In the Sioux Falls area, 4 businesses in the "Other Services Related to Advertising" industry received a PPP loan. These local businesses reported an average of 52 employees (compared to this company's 194) and received an average PPP loan of $684,359 (compared to this company's $2.55M).
Similar Nearby Businesses Who Received PPP Funding:
ACE Airport Media, LLC
Sioux Falls, SD
Sioux Falls, SD
Sioux Falls, SD
Industry PPP Comparison Statistics
Nationwide, 5,061 businesses in the "Other Services Related to Advertising" industry received a total of $403,004,422.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 6 employees, 97% lower than Carsforsale.Com, Inc.'s reported 194 employees, and received an average PPP loan of $79,629, 97% lower than this company's loan of $2.55M.
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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