PPP Loan Data — Fast Mobile Auto Glass, Oakland, CA
Fast Mobile Auto Glass is a sole proprietorship located at 1225 E 12th St in Oakland, California that received a Coronavirus-related PPP loan from the SBA of $25,465.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Fast Mobile Auto Glass in Oakland, CA received a Paycheck Protection Loan of $25,465 through Bank of America, National Association, 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 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, Fast Mobile Auto Glass' 2019 payroll expenses are estimated to be at least $122,232.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,558 per employee1
Reported PPP Proceed Usage:
On the PPP application, Fast Mobile Auto Glass reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,465
Business Information - Fast Mobile Auto Glass in Oakland, CA
1225 E 12th St
Oakland, CA 94606
General Automotive Repair
NAICS code 811111
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Oakland
In the Oakland area, 31 businesses in the "General Automotive Repair" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 4) and received an average PPP loan of $45,839 (compared to this company's $25,465).
Similar Nearby Businesses Who Received PPP Funding:
Quality Auto Service
TMS Automotive LLC
Costa Auto Care And Tire, LLC
Meteor Motorbikes LLC
In N Out Auto Service
Auto Glass Warehouse Inc
IAM Auto Repair & Detail Inc
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 Fast Mobile Auto Glass' reported 4 employees, and received an average PPP loan of $41,461, 63% higher than this company's loan of $25,465.
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Footnotes & Information
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