PPP Loan Data — Full Throttle Auto & Cycle, Inc, Billings, MT
Full Throttle Auto & Cycle, Inc is a subchapter s corporation located at 2506 Phyllis Ln in Billings, Montana that received a Coronavirus-related PPP loan from the SBA of $25,300.00 in April, 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:Paid in Full or Forgiven
Lender:The Yellowstone Bank
Full Throttle Auto & Cycle, Inc in Billings, MT received a Paycheck Protection Loan of $25,300 through The Yellowstone Bank, 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 June, 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, Full Throttle Auto & Cycle, Inc's 2019 payroll expenses are estimated to be at least $121,440.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,240 per employee1
Reported PPP Proceed Usage:
On the PPP application, Full Throttle Auto & Cycle, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,300
Business Information - Full Throttle Auto & Cycle, Inc in Billings, MT
2506 Phyllis Ln
Billings, MT 59102
Used Car Dealers
NAICS code 441120
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Billings
In the Billings area, 42 businesses in the "Used Car Dealers" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 6) and received an average PPP loan of $35,899 (compared to this company's $25,300).
Similar Nearby Businesses Who Received PPP Funding:
AAA Realty, Inc
Performance Auto Sales Inc
Nuttree Enterprises Inc
The Used Car Factory Inc
Freedman Motors, LLC
Orchard Auto Sales LLC
Industry PPP Comparison Statistics
Nationwide, 40,336 businesses in the "Used Car Dealers" industry received a total of $2.19B 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 6 employees, the same amount reported by Full Throttle Auto & Cycle, Inc and received an average PPP loan of $54,194, 114% higher than this company's loan of $25,300.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!