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PPP Loan Data — Grant Bishop Motors Inc, Modesto, CA

SBA PPP loan data, payroll data, and salaries for Grant Bishop Motors Inc
CA

Grant Bishop Motors Inc

Entity: Subchapter S Corporation

Industry: New Car Dealers

Location: Modesto, CA

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Grant Bishop Motors Inc is a subchapter s corporation located at 3900 Mchenry Ave in Modesto, California that received a Coronavirus-related PPP loan from the SBA of $480,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$480,000

Jobs Retained:

52

Loan Approved:

2020-04-08

Lender:

FIRST HAWAIIAN BANK

Grant Bishop Motors Inc received a Paycheck Protection Loan of $480,000 through FIRST HAWAIIAN BANK, which was approved in April, 2020.

2019 Payroll Estimations based On PPP Amount:

Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 0.

Based on standard PPP eligibility rules, Grant Bishop Motors Inc's total 2019 payroll expenses were approximately $2.3M in order to qualify for the PPP loan amount received.

Based on their reported 52 jobs retained, this equals an estimated average yearly compensation of $44,308 per employee1.

Business Information - Grant Bishop Motors Inc in Modesto, CA

Grant Bishop Motors Inc
3900 Mchenry Ave
Modesto, CA 95356

Business Industry

New Car Dealers (NAICS code 441110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CA-10

Similar Companies near Modesto

In the Modesto area, 14 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 63 employees (compared to this company's 52) and received an average PPP loan of $885,754 (compared to this company's $480,000).

Industry PPP Comparison Statistics

Nationwide, 16,570 businesses in the "New Car Dealers" industry received a total of $10,869,996,969.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 47 employees, 10% lower than Grant Bishop Motors Inc's reported 52 employees, and received an average PPP loan of $656,005, 37% higher than this company's loan of $480,000.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

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Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/grant-bishop-motors-inc-modesto-ca