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PPP Loan Data — Five Star Ford Of Texas, LTD, North Richland Hills, TX

SBA PPP loan data, payroll data, and salaries for Five Star Ford Of Texas, LTD
TX

Five Star Ford Of Texas, LTD

Entity: Partnership

Industry: New Car Dealers

Location: North Richland Hills, TX

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Five Star Ford Of Texas, LTD is a partnership located at 6618 Ne Loop 820 in North Richland Hills, Texas that received a Coronavirus-related PPP loan from the SBA of $3,609,772.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.61M

Jobs Retained:

292

Loan Approved:

2020-04-09

Lender:

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION

Five Star Ford Of Texas, LTD received a Paycheck Protection Loan of $3.61M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Five Star Ford Of Texas, LTD's total 2019 payroll expenses were approximately $17.33M in order to qualify for the PPP loan amount received.

Based on their reported 292 jobs retained, this equals an estimated average yearly compensation of $59,339 per employee1.

Because the loan received by Five Star Ford Of Texas, LTD is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Five Star Ford Of Texas, LTD in North Richland Hills, TX

Five Star Ford Of Texas, LTD
6618 Ne Loop 820
North Richland Hills, TX 76180

Business Industry

New Car Dealers (NAICS code 441110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: TX-12

Industry PPP Comparison Statistics

Nationwide, 16,570 businesses in the "New Car Dealers" industry received a total of $10,869,996,969.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 47 employees, 84% lower than Five Star Ford Of Texas, LTD's reported 292 employees, and received an average PPP loan of $656,005, 82% lower than this company's loan of $3.61M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/five-star-ford-of-texas-ltd-north-richland-hills-tx