PPP Loan Data — Elkhorn Auto Services LLC, Elkhorn, WI
Elkhorn Auto Services LLC is a subchapter s corporation located at 113 W Market St in Elkhorn, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $47,000.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least six people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The Greenwood's State Bank
Elkhorn Auto Services LLC in Elkhorn, WI received a Paycheck Protection Loan of $47,000 through The Greenwood's State Bank, which was approved in May, 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 December, 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, Elkhorn Auto Services LLC's 2019 payroll expenses are estimated to be at least $225,600.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $37,600 per employee1
Reported PPP Proceed Usage:
On the PPP application, Elkhorn Auto Services LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,000
Business Information - Elkhorn Auto Services LLC in Elkhorn, WI
113 W Market St
Elkhorn, WI 53121
General Automotive Repair
NAICS code 811111
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Elkhorn
In the Elkhorn area, 9 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 6) and received an average PPP loan of $22,491 (compared to this company's $47,000).
Similar Nearby Businesses Who Received PPP Funding:
Mikes Auto Repair Of Delavan LLC
Precision Auto & Tire
Precision Auto & Tire Corporation
Diesel Power Unlimited
Tim's South Side Auto, LLC
East Troy, WI
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, 17% lower than Elkhorn Auto Services LLC's reported 6 employees, and received an average PPP loan of $41,461, 12% lower than this company's loan of $47,000.
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Footnotes & Information
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