PPP Loan Data — Imported Cars Of Maryland Inc, College Park, MD
Imported Cars Of Maryland Inc is a corporation located at 9500 Baltimore Ave in College Park, Maryland that received a Coronavirus-related PPP loan from the SBA of $2,611,700.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 150 people during the applicable loan loan period.
$ PPP Loan Information
Lender:TRUIST BANK D/B/A BRANCH BANKING & TRUST CO
Imported Cars Of Maryland Inc received a Paycheck Protection Loan of $2.61M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.
Based on standard PPP eligibility rules, Imported Cars Of Maryland Inc's total 2019 payroll expenses were approximately $12.54M in order to qualify for the PPP loan amount received.
Based on their reported 150 jobs retained, this equals an estimated average yearly compensation of $83,574 per employee1.
Business Information - Imported Cars Of Maryland Inc in College Park, MD
9500 Baltimore Ave
College Park, MD 20740
New Car Dealers (NAICS code 441110)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: MD-05
Similar Companies near College Park
In the College Park area, 2 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 75 employees (compared to this company's 150) and received an average PPP loan of $1,563,386 (compared to this company's $2.61M).
Similar Nearby Businesses Who Received PPP Funding:
College Park Motor Cars, Inc.
College Park, MD
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, 69% lower than Imported Cars Of Maryland Inc's reported 150 employees, and received an average PPP loan of $656,005, 75% lower than this company's loan of $2.61M.
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