PPP Loan Data — Expert Tire & Auto Center LLC, Houma, LA
Expert Tire & Auto Center LLC is a subchapter s corporation located at 9688 Main St in Houma, Louisiana that received a Coronavirus-related PPP loan from the SBA of $24,865.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Expert Tire & Auto Center LLC in Houma, LA received a Paycheck Protection Loan of $24,865 through b1Bank, 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 April, 2021.
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, Expert Tire & Auto Center LLC's 2019 payroll expenses are estimated to be at least $119,352.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $29,838 per employee1
Reported PPP Proceed Usage:
On the PPP application, Expert Tire & Auto Center LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $19,891
- Utilities: $634
- Rent: $4,340
Business Information - Expert Tire & Auto Center LLC in Houma, LA
9688 Main St
Houma, LA 70363
General Automotive Repair
NAICS code 811111
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Houma
In the Houma area, 19 businesses in the "General Automotive Repair" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 4) and received an average PPP loan of $16,147 (compared to this company's $24,865).
Similar Nearby Businesses Who Received PPP Funding:
All Equipment Repairs & Services LLC
Craig & Donna Enterprise
Howard Trahan III
Polar Auto Air, LLC
B & R Auto Service Inc
Redmond's Auto Repair Inc
TM Automotive LLC
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, 25% higher than Expert Tire & Auto Center LLC's reported 4 employees, and received an average PPP loan of $41,461, 67% higher than this company's loan of $24,865.
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Footnotes & Information
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