PPP Loan Data — Herb Hallman Chevrolet Inc, Reno, NV
Herb Hallman Chevrolet Inc is a subchapter s corporation located at 800 Kietzke Lane in Reno, Nevada that received a Coronavirus-related PPP loan from the SBA of $1,937,200.00 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
Herb Hallman Chevrolet Inc in Reno, NV received a Paycheck Protection Loan of $1.94M 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 April, 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, Herb Hallman Chevrolet Inc's 2019 payroll expenses are estimated to be at least $9.3M.
Based on their reported 136 jobs retained, this equals an estimated average yearly compensation of $68,372 per employee1
Reported PPP Proceed Usage:
On the PPP application, Herb Hallman Chevrolet Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,937,200
Business Information - Herb Hallman Chevrolet Inc in Reno, NV
800 Kietzke Lane
Reno, NV 89502
New Car Dealers
NAICS code 441110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Reno
In the Reno area, 11 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 76 employees (compared to this company's 136) and received an average PPP loan of $916,491 (compared to this company's $1.94M).
Similar Nearby Businesses Who Received PPP Funding:
FA Reno LLC
Reno Dealership Group LLC
CIP Cycles LLC
Jones-West Ford, Inc
Dolan Enterprises, Inc., DBA Dolan Toyota
Display Space Rentals Inc
Bavarian Auto Haus
JP Auto Sales
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, 62% lower than Herb Hallman Chevrolet Inc's reported 136 employees, and received an average PPP loan of $618,860, 68% lower than this company's loan of $1.94M.
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Footnotes & Information
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