PPP Loan Data — Darcars Of Paramount Drive, Inc, Derwood, MD
Darcars Of Paramount Drive, Inc is a corporation located at 15625 Frederick Rd in Derwood, Maryland that received a Coronavirus-related PPP loan from the SBA of $2,422,400.00 in April, 2020.
$ PPP Loan Information
Jobs Retained:0 Unreported
Lender:TRUIST BANK D/B/A BRANCH BANKING & TRUST CO
Darcars Of Paramount Drive, Inc in Derwood, MD received a Paycheck Protection Loan of $2.42M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.
Based on standard PPP eligibility rules, Darcars Of Paramount Drive, Inc's total 2019 payroll expenses were approximately $11.63M in order to qualify for the PPP loan amount received.
Unlike most businesses, Darcars Of Paramount Drive, Inc's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.
Business Information - Darcars Of Paramount Drive, Inc in Derwood, MD
15625 Frederick Rd
Derwood, MD 20855
New Car Dealers (NAICS code 441110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MD-06
Similar Companies near Derwood
In the Derwood area, 11 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 49 employees (compared to this company's 0) and received an average PPP loan of $889,193 (compared to this company's $2.42M).
Similar Nearby Businesses Who Received PPP Funding:
Darcars Of Rockville, Inc.
Ourisman Of Clarksville Inc
Darcars Of Indianola Drive Inc.
S & R Inc
Ourisman Automotive Of Laurel, Inc.
Ourisman Of Rockville Inc
Ourisman Hyundai Of Bowie
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, and received an average PPP loan of $656,005, 73% lower than this company's loan of $2.42M.
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.
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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