PPP Loan Data — Henderson Chevrolet Co, Henderson, NV
Henderson Chevrolet Co is a subchapter s corporation located at 240 N Gibson Rd in Henderson, Nevada that received a Coronavirus-related PPP loan from the SBA of $1,952,100.00 in April, 2020. This business is a General Motors, LLC (Chevrolet, Buick, GM, Cadillac) Dealer Sales and Service Agreement franchise.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Zions Bank, A Division of
Henderson Chevrolet Co in Henderson, NV received a Paycheck Protection Loan of $1.95M through Zions Bank, A Division of, 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 June, 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, Henderson Chevrolet Co's 2019 payroll expenses are estimated to be at least $9.37M.
Based on their reported 128 jobs retained, this equals an estimated average yearly compensation of $73,204 per employee1
Reported PPP Proceed Usage:
On the PPP application, Henderson Chevrolet Co reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,952,100
Business Information - Henderson Chevrolet Co in Henderson, NV
240 N Gibson Rd
Henderson, NV 89014
New Car Dealers
NAICS code 441110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Henderson
In the Henderson area, 12 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 88 employees (compared to this company's 128) and received an average PPP loan of $1,232,659 (compared to this company's $1.95M).
Similar Nearby Businesses Who Received PPP Funding:
Family Auto Body LLC
Valley Automotive Group
Shack Findlay Automotive LLC
Findlay Schneider, LLC
Johnny Autoworld, Inc
Pete Findlay Automotive, Inc
Henderson Hyundai Superstore, Inc
Chapman Chrysler Jeep, LLC
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, 59% lower than Henderson Chevrolet Co's reported 128 employees, and received an average PPP loan of $618,860, 68% lower than this company's loan of $1.95M.
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Footnotes & Information
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