PPP Loan Data — Herrin Gear Chevrolet Co Inc, Jackson, MS
Herrin Gear Chevrolet Co Inc is a corporation located at 1685 High St in Jackson, Mississippi that received a Coronavirus-related PPP loan from the SBA of $2,435,500.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 217 people during the applicable loan loan period.
$ PPP Loan Information
Herrin Gear Chevrolet Co Inc received a Paycheck Protection Loan of $2.44M through REGIONS BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Herrin Gear Chevrolet Co Inc's total 2019 payroll expenses were approximately $11.69M in order to qualify for the PPP loan amount received.
Based on their reported 217 jobs retained, this equals an estimated average yearly compensation of $53,873 per employee1.
Business Information - Herrin Gear Chevrolet Co Inc in Jackson, MS
1685 High St
Jackson, MS 39202
New Car Dealers (NAICS code 441110)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: MS-03
Similar Companies near Jackson
In the Jackson area, 2 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 109 employees (compared to this company's 217) and received an average PPP loan of $1,223,174 (compared to this company's $2.44M).
Similar Nearby Businesses Who Received PPP Funding:
Osby's Auto Sales, LLC
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, 78% lower than Herrin Gear Chevrolet Co Inc's reported 217 employees, and received an average PPP loan of $656,005, 73% lower than this company's loan of $2.44M.
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