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PPP Loan Data — Davis Motorcars Of Austin LTD,
Austin, TX
FRANCHISE
TXDavis Motorcars Of Austin LTD
Entity: Partnership
Industry: General Automotive Repair
Franchise: Acura Automobile Division - Dealer Sales and Service Agreement
Location: Austin, TX
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Davis Motorcars Of Austin LTD is a partnership located at 4801 S Interstate 35 in Austin, Texas that received a Coronavirus-related PPP loan from the SBA of $569,260.00 in March, 2021. This business is a Acura Automobile Division - Dealer Sales and Service Agreement franchise.
$
PPP Loan Information
Loan #4653688600
Loan Size:
Jobs Retained:
42Loan Approved:
2021-03-18Loan Status:
Ongoing LoanLender:
JPMorgan Chase Bank, National AssociationDavis Motorcars Of Austin LTD in Austin, TX received a Paycheck Protection Loan of $569,260 through JPMorgan Chase Bank, National Association, which was approved in March, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Davis Motorcars Of Austin LTD's 2019 payroll expenses are estimated to be at least $2.73M.
Based on their reported 42 jobs retained, this equals an estimated average yearly compensation of $65,058 per employee1
Reported PPP Proceed Usage:
On the PPP application, Davis Motorcars Of Austin LTD reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $569,258
- Utilities: $1
Business Information - Davis Motorcars Of Austin LTD in Austin, TX
4801 S Interstate 35
Austin, TX 78744
Business Industry:
General Automotive Repair
NAICS code 811111
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Austin
In the Austin area, 35 businesses in the "General Automotive Repair" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 42) and received an average PPP loan of $79,635 (compared to this company's $569,260).
Similar Nearby Businesses Who Received PPP Funding:
Reddy Automotive And Gear, LLC
Austin, TX
South Austin Speed Shop
Austin, TX
Capital- V Connection,Inc
Austin, TX
Perez Enterprises Inc
Austin, TX
MB & Ea Motors, LLC
Austin, TX
Raul Ramirez
Austin, TX
Alfredos Shop LLC
Austin, TX
JMA Creations LLC
Austin, TX
Denham & Lovell Inc DBA Superior Automotive
Austin, TX
Industry PPP Comparison Statistics
Nationwide, 89,577 businesses in the "General Automotive Repair" industry received a total of $3.85B 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, 88% lower than Davis Motorcars Of Austin LTD's reported 42 employees, and received an average PPP loan of $42,950, 92% lower than this company's loan of $569,260.
Davis Motorcars Of Austin LTD
Entity: Partnership
Industry: New Car Dealers
Location: Austin, TX
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Davis Motorcars Of Austin LTD is a partnership located at 4801 S Interstate 35 in Austin, Texas that received a Coronavirus-related PPP loan from the SBA of $569,260.00 in May, 2020.
$
PPP Loan Information
Loan #2904167706
Loan Size:
Jobs Retained:
45Loan Approved:
2020-05-01Loan Status:
Ongoing LoanLender:
JPMorgan Chase Bank, National AssociationDavis Motorcars Of Austin LTD in Austin, TX received a Paycheck Protection Loan of $569,260 through JPMorgan Chase Bank, National Association, which was approved in May, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Davis Motorcars Of Austin LTD's 2019 payroll expenses are estimated to be at least $2.73M.
Based on their reported 45 jobs retained, this equals an estimated average yearly compensation of $60,721 per employee1
Reported PPP Proceed Usage:
On the PPP application, Davis Motorcars Of Austin LTD reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $419,935
- Utilities: $17,500
- Rent: $110,000
- Health Care: $21,825
Business Information - Davis Motorcars Of Austin LTD in Austin, TX
4801 S Interstate 35
Austin, TX 78744
Business Industry:
New Car Dealers
NAICS code 441110
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Austin
In the Austin area, 11 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 83 employees (compared to this company's 45) and received an average PPP loan of $1,071,997 (compared to this company's $569,260).
Similar Nearby Businesses Who Received PPP Funding:
Capitol Chevrolet, Inc
Austin, TX
Roger Beasley Mazda Central
Austin, TX
Kike Auto Sales
Austin, TX
Scott Stark Enterprises, Inc
Austin, TX
Carisi, Inc
Austin, TX
Central Austin Motorcars LLC
Austin, TX
Stark Automotive, Inc
Austin, TX
61 Luck Of The Irish, Inc
Austin, TX
Industry PPP Comparison Statistics
Nationwide, 19,706 businesses in the "New Car Dealers" industry received a total of $12.26B 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 52 employees, 16% higher than Davis Motorcars Of Austin LTD's reported 45 employees, and received an average PPP loan of $622,043, 9% higher than this company's loan of $569,260.
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. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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