PPP Loan Data — Euro Motorcars Main Line, LLC, Bala Cynwyd, PA
Euro Motorcars Main Line, LLC is a limited liability company (LLC) located at 225 Bala Avenue in Bala Cynwyd, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $1,743,592.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Manufacturers and Traders Trust Company
Euro Motorcars Main Line, LLC in Bala Cynwyd, PA received a Paycheck Protection Loan of $1.74M through Manufacturers and Traders Trust Company, 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, Euro Motorcars Main Line, LLC's 2019 payroll expenses are estimated to be at least $8.37M.
Based on their reported 111 jobs retained, this equals an estimated average yearly compensation of $75,399 per employee1
Reported PPP Proceed Usage:
On the PPP application, Euro Motorcars Main Line, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,236,500
- Utilities: $69,592
- Rent: $280,000
- Health Care: $157,500
Business Information - Euro Motorcars Main Line, LLC in Bala Cynwyd, PA
225 Bala Avenue
Bala Cynwyd, PA 19004
New Car Dealers
NAICS code 441110
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Bala Cynwyd
In the Bala Cynwyd area, 10 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 74 employees (compared to this company's 111) and received an average PPP loan of $967,366 (compared to this company's $1.74M).
Similar Nearby Businesses Who Received PPP Funding:
Ardmore Automotive Incorporated
Scott Imports Inc
Piazza Of Ardmore Inc
M+B Management Company
M & B Paul, Inc
Ardmore Automotive, Inc
Infiniti Of Ardmore Inc
Piazza Operations 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, 53% lower than Euro Motorcars Main Line, LLC's reported 111 employees, and received an average PPP loan of $618,860, 65% lower than this company's loan of $1.74M.
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Footnotes & Information
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