PPP Loan Data — DJ's Brake And Alignment, Monmouth, IL
DJ's Brake And Alignment is a sole proprietorship located at 2068 Us Highway 67 in Monmouth, Illinois that received a Coronavirus-related PPP loan from the SBA of $47,070.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Security Savings Bank
DJ's Brake And Alignment in Monmouth, IL received a Paycheck Protection Loan of $47,070 through Security Savings Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in November, 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, DJ's Brake And Alignment's 2019 payroll expenses are estimated to be at least $225,936.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $45,187 per employee1
Reported PPP Proceed Usage:
On the PPP application, DJ's Brake And Alignment reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,070
Business Information - DJ's Brake And Alignment in Monmouth, IL
2068 Us Highway 67
Monmouth, IL 61462
General Automotive Repair
NAICS code 811111
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Monmouth
In the Monmouth area, 11 businesses in the "General Automotive Repair" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 5) and received an average PPP loan of $22,008 (compared to this company's $47,070).
Similar Nearby Businesses Who Received PPP Funding:
Orton Trailer And Tire Repair
Jones Auto Center
Ronald L. Knuth
Bradley S Bushong
Ryner's Tire And Auto Service
Industry PPP Comparison Statistics
Nationwide, 95,091 businesses in the "General Automotive Repair" industry received a total of $3.94B 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, the same amount reported by DJ's Brake And Alignment and received an average PPP loan of $41,461, 12% lower than this company's loan of $47,070.
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Footnotes & Information
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