PPP Loan Data — G & S Management Corp, Tilton, NH
G & S Management Corp is a subchapter s corporation located at 40 East Main St in Tilton, New Hampshire that received a Coronavirus-related PPP loan from the SBA of $2,214,000.00 in April, 2020. This business is a Ford Motor Company Dealer Sales and Service Agreement franchise.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
G & S Management Corp in Tilton, NH received a Paycheck Protection Loan of $2.21M through Northway 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, G & S Management Corp's 2019 payroll expenses are estimated to be at least $10.63M.
Based on their reported 185 jobs retained, this equals an estimated average yearly compensation of $57,444 per employee1
Reported PPP Proceed Usage:
On the PPP application, G & S Management Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,792,894
- Utilities: $64,000
- Mortgage Interest: $243,125
- Health Care: $110,000
- Debt Interest: $3,981
Business Information - G & S Management Corp in Tilton, NH
40 East Main St
Tilton, NH 3276
New Car Dealers
NAICS code 441110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Tilton
In the Tilton area, 2 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 111 employees (compared to this company's 185) and received an average PPP loan of $1,339,198 (compared to this company's $2.21M).
Similar Nearby Businesses Who Received PPP Funding:
Belknap Subaru, Inc
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, 72% lower than G & S Management Corp's reported 185 employees, and received an average PPP loan of $618,860, 72% lower than this company's loan of $2.21M.
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Footnotes & Information
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