PPP Loan Data — Gault Chevrolet Co., Inc, Endicott, NY
Gault Chevrolet Co., Inc is a corporation located at 2507 North St in Endicott, New York that received a Coronavirus-related PPP loan from the SBA of $1,912,043.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:NBT Bank, National Association
Gault Chevrolet Co., Inc in Endicott, NY received a Paycheck Protection Loan of $1.91M through NBT Bank, National Association, 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 May, 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, Gault Chevrolet Co., Inc's 2019 payroll expenses are estimated to be at least $9.18M.
Based on their reported 181 jobs retained, this equals an estimated average yearly compensation of $50,706 per employee1
Reported PPP Proceed Usage:
On the PPP application, Gault Chevrolet Co., Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,912,043
Business Information - Gault Chevrolet Co., Inc in Endicott, NY
2507 North St
Endicott, NY 13760
New Car Dealers
NAICS code 441110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
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, 71% lower than Gault Chevrolet Co., Inc's reported 181 employees, and received an average PPP loan of $618,860, 68% lower than this company's loan of $1.91M.
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Footnotes & Information
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