PPP Loan Data — Houston Auto Broker, Houston, TX
Houston Auto Broker is a sole proprietorship located at 5613 Star Lane in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Houston Auto Broker in Houston, TX received a Paycheck Protection Loan of $25,000 through Comerica Bank, which was approved in April, 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, Houston Auto Broker's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Houston Auto Broker reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Houston Auto Broker in Houston, TX
5613 Star Lane
Houston, TX 77057
Used Car Dealers
NAICS code 441120
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Houston
In the Houston area, 34 businesses in the "Used Car Dealers" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 4) and received an average PPP loan of $38,690 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Motorwerks Vehicle Sales LLC
Nxcess Motorcars Inc
Reza Ghasemi Khorinia
Auto Boutique Texas LLC
El Rifai Enterprises Inc
5638 Star Lane, TX
Industry PPP Comparison Statistics
Nationwide, 40,336 businesses in the "Used Car Dealers" industry received a total of $2.19B 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, 50% higher than Houston Auto Broker's reported 4 employees, and received an average PPP loan of $54,194, 117% higher than this company's loan of $25,000.
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Footnotes & Information
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