PPP Loan Data — Commercial Tire, Inc., Meridian, ID
Commercial Tire, Inc. is a subchapter s corporation located at 2095 E. Commercial Street in Meridian, Idaho that received a Coronavirus-related PPP loan from the SBA of $8,293,600.00 in April, 2020.
$ PPP Loan Information
Lender:ZIONS BANK, A DIVISION OF
Commercial Tire, Inc. received a Paycheck Protection Loan of $8.29M through ZIONS BANK, A DIVISION OF, which was approved in April, 2020.
Based on standard PPP eligibility rules, Commercial Tire, Inc.'s total 2019 payroll expenses were approximately $39.81M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $79,619 per employee1.
Business Information - Commercial Tire, Inc. in Meridian, ID
2095 E. Commercial Street
Meridian, ID 83642
Tire Dealers (NAICS code 441320)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: ID-01
Similar Companies near Meridian
In the Meridian area, 2 businesses in the "Tire Dealers" industry received a PPP loan. These local businesses reported an average of 250 employees (compared to this company's 500) and received an average PPP loan of $4,174,650 (compared to this company's $8.29M).
Similar Nearby Businesses Who Received PPP Funding:
Marco's Tire Incorporated
Industry PPP Comparison Statistics
Nationwide, 5,869 businesses in the "Tire Dealers" industry received a total of $664,120,532.00 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 11 employees, 98% lower than Commercial Tire, Inc.'s reported 500 employees, and received an average PPP loan of $113,157, 99% lower than this company's loan of $8.29M.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) 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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