PPP Loan Data — Green Valley Body Shop Inc, Rock Island, IL
Green Valley Body Shop Inc
Entity: Subchapter S Corporation
Location: Rock Island, ILTweet This • Search All PPP Data
Green Valley Body Shop Inc is a subchapter s corporation located at 3111 11th St in Rock Island, Illinois that received a Coronavirus-related PPP loan from the SBA of $24,933.00 in June, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Midwest Bank
Green Valley Body Shop Inc in Rock Island, IL received a Paycheck Protection Loan of $24,933 through First Midwest Bank, which was approved in June, 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, Green Valley Body Shop Inc's 2019 payroll expenses are estimated to be at least $119,678.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $39,893 per employee1
Reported PPP Proceed Usage:
On the PPP application, Green Valley Body Shop Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,933
Business Information - Green Valley Body Shop Inc in Rock Island, IL
3111 11th St
Rock Island, IL 61201
Automotive Body, Paint, and Interior Repair and Maintenance
NAICS code 811121
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Rock Island
In the Rock Island area, 3 businesses in the "Automotive Body, Paint, and Interior Repair and Maintenance" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 3) and received an average PPP loan of $19,233 (compared to this company's $24,933).
Similar Nearby Businesses Who Received PPP Funding:
Jackson' S Auto Body & Custom Paint LLC
Rock Island, IL
Rock Island, IL
Industry PPP Comparison Statistics
Nationwide, 41,993 businesses in the "Automotive Body, Paint, and Interior Repair and Maintenance" industry received a total of $2.54B 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, 100% higher than Green Valley Body Shop Inc's reported 3 employees, and received an average PPP loan of $60,493, 143% higher than this company's loan of $24,933.
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Footnotes & Information
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