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PPP Loan Data — Dan Cummins Chevrolet-Buick Inc, Paris, KY

SBA PPP loan data, payroll data, and salaries for Dan Cummins Chevrolet-Buick Inc
KY

Dan Cummins Chevrolet-Buick Inc

Entity: Subchapter S Corporation

Industry: New Car Dealers

Location: Paris, KY

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Dan Cummins Chevrolet-Buick Inc is a subchapter s corporation located at 1020 Martin Luther King Jr Blvd in Paris, Kentucky that received a Coronavirus-related PPP loan from the SBA of $2,952,300.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.95M

Jobs Retained:

250

Loan Approved:

2020-04-03

Lender:

TRADITIONAL BANK, INC.

Dan Cummins Chevrolet-Buick Inc in Paris, KY received a Paycheck Protection Loan of $2.95M through TRADITIONAL BANK, INC., which was approved in April, 2020.

Based on standard PPP eligibility rules, Dan Cummins Chevrolet-Buick Inc's total 2019 payroll expenses were approximately $14.17M in order to qualify for the PPP loan amount received.

Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $56,684 per employee1.

Because the loan received by Dan Cummins Chevrolet-Buick Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Dan Cummins Chevrolet-Buick Inc in Paris, KY

Dan Cummins Chevrolet-Buick Inc
1020 Martin Luther King Jr Blvd
Paris, KY 40361

Business Industry

New Car Dealers (NAICS code 441110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: KY-06

Similar Companies near Paris

In the Paris area, 3 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 111 employees (compared to this company's 250) and received an average PPP loan of $1,200,467 (compared to this company's $2.95M).

Industry PPP Comparison Statistics

Nationwide, 16,570 businesses in the "New Car Dealers" industry received a total of $10,869,996,969.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 47 employees, 81% lower than Dan Cummins Chevrolet-Buick Inc's reported 250 employees, and received an average PPP loan of $656,005, 78% lower than this company's loan of $2.95M.

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/dan-cummins-chevrolet-buick-inc-paris-ky