PPP Loan Data — Dewitts Collision & Recovery, Richton, MS
Dewitts Collision & Recovery
Entity: Sole Proprietorship
Location: Richton, MSTweet This • Search All PPP Data
Dewitts Collision & Recovery is a sole proprietorship located at 1209 Highway 15 in Richton, Mississippi that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in June, 2020.
The company has reported itself as a White male owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Community Bank of Mississippi
Dewitts Collision & Recovery in Richton, MS received a Paycheck Protection Loan of $25,000 through Community Bank of Mississippi, which was approved in June, 2020.
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, Dewitts Collision & Recovery's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Dewitts Collision & Recovery reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $22,000
- Utilities: $3,000
Business Information - Dewitts Collision & Recovery in Richton, MS
1209 Highway 15
Richton, MS 39476
Automotive Body, Paint, and Interior Repair and Maintenance
NAICS code 811121
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Richton
In the Richton area, 2 businesses in the "Automotive Body, Paint, and Interior Repair and Maintenance" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 4) and received an average PPP loan of $18,544 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Pro Glass & Dent, Inc
Industry PPP Comparison Statistics
Nationwide, 41,993 businesses in the "Automotive Body, Paint, and Interior Repair and Maintenance" industry received a total of $2.54B 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, 50% higher than Dewitts Collision & Recovery's reported 4 employees, and received an average PPP loan of $60,493, 142% higher than this company's loan of $25,000.
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