PPP Loan Data — Corwin Auto Idaho LLC, Nampa, ID
Corwin Auto Idaho LLC is a limited liability company (LLC) located at 5707 Gate Blvd E in Nampa, Idaho that received a Coronavirus-related PPP loan from the SBA of $1,731,300.00 in April, 2020. This business is a Ford Motor Company Dealer Sales and Service Agreement franchise.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Corwin Auto Idaho LLC in Nampa, ID received a Paycheck Protection Loan of $1.73M through Bell 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 March, 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, Corwin Auto Idaho LLC's 2019 payroll expenses are estimated to be at least $8.31M.
Based on their reported 125 jobs retained, this equals an estimated average yearly compensation of $66,482 per employee1
Reported PPP Proceed Usage:
On the PPP application, Corwin Auto Idaho LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,731,300
Business Information - Corwin Auto Idaho LLC in Nampa, ID
5707 Gate Blvd E
Nampa, ID 83687
Used Car Dealers
NAICS code 441120
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Nampa
In the Nampa area, 10 businesses in the "Used Car Dealers" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 125) and received an average PPP loan of $242,564 (compared to this company's $1.73M).
Similar Nearby Businesses Who Received PPP Funding:
Magic Auto Sales LLC
Western Mountain Bus Sales, Inc
HON Motors, LLC
Boise Auto Clearance Inc
ADA County Auto Sales LLC
Drive Happy Auto Sales & Repair LLC
Yes Auto Sales LLC
Industry PPP Comparison Statistics
Nationwide, 40,336 businesses in the "Used Car Dealers" industry received a total of $2.19B 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 6 employees, 95% lower than Corwin Auto Idaho LLC's reported 125 employees, and received an average PPP loan of $54,194, 97% lower than this company's loan of $1.73M.
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Footnotes & Information
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