PPP Loan Data — Drake Automotive Group, LLC, Henderson, NV
Drake Automotive Group, LLC
Entity: Limited Liability Company (LLC)
Location: Henderson, NVTweet This • Search All PPP Data
Drake Automotive Group, LLC is a limited liability company (LLC) located at 130 Cassia Way 0.0 in Henderson, Nevada that received a Coronavirus-related PPP loan from the SBA of $2,080,050.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Drake Automotive Group, LLC in Henderson, NV received a Paycheck Protection Loan of $2.08M through JPMorgan Chase Bank, National Association, which was approved in April, 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, Drake Automotive Group, LLC's 2019 payroll expenses are estimated to be at least $9.98M.
Based on their reported 157 jobs retained, this equals an estimated average yearly compensation of $63,594 per employee1
Reported PPP Proceed Usage:
On the PPP application, Drake Automotive Group, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,657,567
- Utilities: $50,000
- Rent: $250,000
- Health Care: $122,483
Business Information - Drake Automotive Group, LLC in Henderson, NV
130 Cassia Way 0.0
Henderson, NV 89014
Motor Vehicle Supplies and New Parts Merchant Wholesalers
NAICS code 423120
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Henderson
In the Henderson area, 2 businesses in the "Motor Vehicle Supplies and New Parts Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 82 employees (compared to this company's 157) and received an average PPP loan of $1,065,438 (compared to this company's $2.08M).
Similar Nearby Businesses Who Received PPP Funding:
Auto Restore Specialist
Industry PPP Comparison Statistics
Nationwide, 5,778 businesses in the "Motor Vehicle Supplies and New Parts Merchant Wholesalers" industry received a total of $789.24M 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 14 employees, 91% lower than Drake Automotive Group, LLC's reported 157 employees, and received an average PPP loan of $136,595, 93% lower than this company's loan of $2.08M.
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Footnotes & Information
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