PPP Loan Data — GM Asphalt Repair, Gypsum, CO
GM Asphalt Repair is a corporation located at 732 2nd Street in Gypsum, Colorado that received a Coronavirus-related PPP loan from the SBA of $46,525.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Wells Fargo Bank, National Association
GM Asphalt Repair in Gypsum, CO received a Paycheck Protection Loan of $46,525 through Wells Fargo Bank, National Association, 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, GM Asphalt Repair's 2019 payroll expenses are estimated to be at least $223,320.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $44,664 per employee1
Reported PPP Proceed Usage:
On the PPP application, GM Asphalt Repair reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,525
Business Information - GM Asphalt Repair in Gypsum, CO
732 2nd Street
Gypsum, CO 81637
Parking Lots and Garages
NAICS code 812930
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 3,661 businesses in the "Parking Lots and Garages" industry received a total of $470.09M 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 21 employees, 320% higher than GM Asphalt Repair's reported 5 employees, and received an average PPP loan of $128,404, 176% higher than this company's loan of $46,525.
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Footnotes & Information
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