PPP Loan Data — Gullo Cars Of Conroe, I, LP, Conroe, TX
Gullo Cars Of Conroe, I, LP is a partnership located at 925 Interstate 45 South in Conroe, Texas that received a Coronavirus-related PPP loan from the SBA of $3,007,000.00 in April, 2020.
$ PPP Loan Information
Lender:WOODFOREST NATIONAL BANK
Gullo Cars Of Conroe, I, LP in Conroe, TX received a Paycheck Protection Loan of $3.01M through WOODFOREST NATIONAL BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Gullo Cars Of Conroe, I, LP's total 2019 payroll expenses were approximately $14.43M in order to qualify for the PPP loan amount received.
Based on their reported 185 jobs retained, this equals an estimated average yearly compensation of $78,019 per employee1.
Business Information - Gullo Cars Of Conroe, I, LP in Conroe, TX
925 Interstate 45 South
Conroe, TX 77301
Used Car Dealers (NAICS code 441120)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: TX-08
Similar Companies near Conroe
In the Conroe area, 7 businesses in the "Used Car Dealers" industry received a PPP loan. These local businesses reported an average of 34 employees (compared to this company's 185) and received an average PPP loan of $487,531 (compared to this company's $3.01M).
Similar Nearby Businesses Who Received PPP Funding:
Mill Ave Auto Group LLC
Trade-Rite Auto Sales, Inc.
Top Notch Used Cars
B&M Car Company, LLC
Victory Motor Company LLC
Industry PPP Comparison Statistics
Nationwide, 19,222 businesses in the "Used Car Dealers" industry received a total of $1,465,557,208.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 7 employees, 96% lower than Gullo Cars Of Conroe, I, LP's reported 185 employees, and received an average PPP loan of $76,244, 97% lower than this company's loan of $3.01M.
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, and is published unmodified, as provided by the SBA.
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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