PPP Loan Data — Fowler Dodge Inc, Oklahoma City, OK
Fowler Dodge Inc is a corporation located at 55 W Interstate 240 Service Rd in Oklahoma City, Oklahoma that received a Coronavirus-related PPP loan from the SBA of $1,513,840.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Fowler Dodge Inc in Oklahoma City, OK received a Paycheck Protection Loan of $1.51M through Bank of America, National Association, which was approved in April, 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, Fowler Dodge Inc's 2019 payroll expenses are estimated to be at least $7.27M.
Based on their reported 110 jobs retained, this equals an estimated average yearly compensation of $66,058 per employee1
Reported PPP Proceed Usage:
On the PPP application, Fowler Dodge Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,513,840
Business Information - Fowler Dodge Inc in Oklahoma City, OK
55 W Interstate 240 Service Rd
Oklahoma City, OK 73139
New Car Dealers
NAICS code 441110
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Oklahoma City
In the Oklahoma City area, 3 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 88 employees (compared to this company's 110) and received an average PPP loan of $1,187,047 (compared to this company's $1.51M).
Similar Nearby Businesses Who Received PPP Funding:
Orrklahoma Motors, Inc
Oklahoma City, OK
David Stanley Chevrolet, Inc
Oklahoma City, OK
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 Fowler Dodge Inc's reported 110 employees, and received an average PPP loan of $618,860, 59% lower than this company's loan of $1.51M.
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Footnotes & Information
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