PPP Loan Data — City Automatic Transmission, Waterbury, CT
City Automatic Transmission is a corporation located at 140 Industry Lane in Waterbury, Connecticut that received a Coronavirus-related PPP loan from the SBA of $25,050.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Webster Bank, National Association
City Automatic Transmission in Waterbury, CT received a Paycheck Protection Loan of $25,050 through Webster Bank, National Association, 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 May, 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, City Automatic Transmission's 2019 payroll expenses are estimated to be at least $120,240.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,060 per employee1
Reported PPP Proceed Usage:
On the PPP application, City Automatic Transmission reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,050
Business Information - City Automatic Transmission in Waterbury, CT
140 Industry Lane
Waterbury, CT 6704
Automotive Transmission Repair
NAICS code 811113
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 3,343 businesses in the "Automotive Transmission Repair" industry received a total of $137.01M 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 5 employees, 25% higher than City Automatic Transmission's reported 4 employees, and received an average PPP loan of $40,985, 64% higher than this company's loan of $25,050.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!