PPP Loan Data — Dick Browning, Inc, Cerritos, CA
Dick Browning, Inc is a corporation located at 18827 Studebaker Rd in Cerritos, California that received a Coronavirus-related PPP loan from the SBA of $1,619,072.00 in April, 2020. This business is a Mazda North American Operations Dealer Agreement franchise.
The company has reported itself as a White male owned business, and employed at least 118 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:City National Bank
Dick Browning, Inc in Cerritos, CA received a Paycheck Protection Loan of $1.62M through City National Bank, which was approved in April, 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
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, Dick Browning, Inc's 2019 payroll expenses are estimated to be at least $7.77M.
Based on their reported 118 jobs retained, this equals an estimated average yearly compensation of $65,861 per employee1
Reported PPP Proceed Usage:
On the PPP application, Dick Browning, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,214,304
- Utilities: $80,954
- Rent: $161,907
- Debt Interest: $161,907
Business Information - Dick Browning, Inc in Cerritos, CA
18827 Studebaker Rd
Cerritos, CA 90703
New Car Dealers
NAICS code 441110
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: Urban
Similar Companies near Cerritos
In the Cerritos area, 11 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 114 employees (compared to this company's 118) and received an average PPP loan of $1,276,676 (compared to this company's $1.62M).
Similar Nearby Businesses Who Received PPP Funding:
Cerritos Infiniti, Inc
UAG Cerritos I LLC
Cerritos Ford, Inc
Auto Square Autos, Inc
Cerritos Dodge, Inc
UAG Cerritos LLC
Norm Reeves, Inc
Mckenna Motors Cerritos Inc
Industry PPP Comparison Statistics
Nationwide, 19,896 businesses in the "New Car Dealers" industry received a total of $12.31B 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, 56% lower than Dick Browning, Inc's reported 118 employees, and received an average PPP loan of $618,860, 62% lower than this company's loan of $1.62M.
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Footnotes & Information
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