PPP Loan Data — Flat Rock Auto Parts Inc, Murfreesboro, TN
Flat Rock Auto Parts Inc
Location: Murfreesboro, TNTweet This • Search All PPP Data
Flat Rock Auto Parts Inc is a corporation located at 720 Flat Rock Road in Murfreesboro, Tennessee that received a Coronavirus-related PPP loan from the SBA of $46,602.00 in May, 2020.
The company has reported itself as a White male owned business, and employed at least six people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
Flat Rock Auto Parts Inc in Murfreesboro, TN received a Paycheck Protection Loan of $46,602 through Cross River Bank, which was approved in May, 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, Flat Rock Auto Parts Inc's 2019 payroll expenses are estimated to be at least $223,690.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $37,282 per employee1
Reported PPP Proceed Usage:
On the PPP application, Flat Rock Auto Parts Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,602
Business Information - Flat Rock Auto Parts Inc in Murfreesboro, TN
720 Flat Rock Road
Murfreesboro, TN 37130
All Other Miscellaneous Store Retailers (except Tobacco Stores)
NAICS code 453998
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Murfreesboro
In the Murfreesboro area, 35 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 6) and received an average PPP loan of $15,972 (compared to this company's $46,602).
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Industry PPP Comparison Statistics
Nationwide, 152,436 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a total of $5.23B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, 33% lower than Flat Rock Auto Parts Inc's reported 6 employees, and received an average PPP loan of $34,329, 26% lower than this company's loan of $46,602.
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