PPP Loan Data — Charles Clark Chevrolet Co, Mcallen, TX
Charles Clark Chevrolet Co is a corporation located at 801 W Us Highway 83 in Mcallen, Texas that received a Coronavirus-related PPP loan from the SBA of $1,532,700.00 in April, 2020. This business is a General Motors, LLC (Chevrolet, Buick, GM, Cadillac) Dealer Sales and Service Agreement franchise.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Charles Clark Chevrolet Co in Mcallen, TX received a Paycheck Protection Loan of $1.53M through Frost 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 January, 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, Charles Clark Chevrolet Co's 2019 payroll expenses are estimated to be at least $7.36M.
Based on their reported 130 jobs retained, this equals an estimated average yearly compensation of $56,592 per employee1
Reported PPP Proceed Usage:
On the PPP application, Charles Clark Chevrolet Co reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,532,700
Business Information - Charles Clark Chevrolet Co in Mcallen, TX
801 W Us Highway 83
Mcallen, TX 78501
New Car Dealers
NAICS code 441110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Mcallen
In the Mcallen area, 13 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 79 employees (compared to this company's 130) and received an average PPP loan of $882,691 (compared to this company's $1.53M).
Similar Nearby Businesses Who Received PPP Funding:
Boggus Motors Sales II LLC
Bert Ogden Mission Motors, Inc
Fiesta Trenton Motors, Inc
Hacienda Ventures Inc
Bert Ogden Mcallen Motors, Inc
Fiesta Account Services LLC
CS Auto, LTD
TNT Motors, LLC
Mc Allen, TX
Industry PPP Comparison Statistics
Nationwide, 19,896 businesses in the "New Car Dealers" industry received a total of $12.31B 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 52 employees, 60% lower than Charles Clark Chevrolet Co's reported 130 employees, and received an average PPP loan of $618,860, 60% lower than this company's loan of $1.53M.
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Footnotes & Information
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