PPP Loan Data — Indy Tire Centers Inc, Indianapolis, IN
Indy Tire Centers Inc is a subchapter s corporation located at 9302 E 30th St in Indianapolis, Indiana that received a Coronavirus-related PPP loan from the SBA of $1,700,700.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:PNC Bank, National Association
Indy Tire Centers Inc in Indianapolis, IN received a Paycheck Protection Loan of $1.7M through PNC Bank, National Association, 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 December, 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, Indy Tire Centers Inc's 2019 payroll expenses are estimated to be at least $8.16M.
Based on their reported 127 jobs retained, this equals an estimated average yearly compensation of $64,278 per employee1
Reported PPP Proceed Usage:
On the PPP application, Indy Tire Centers Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,700,700
Business Information - Indy Tire Centers Inc in Indianapolis, IN
9302 E 30th St
Indianapolis, IN 46229
General Automotive Repair
NAICS code 811111
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Indianapolis
In the Indianapolis area, 16 businesses in the "General Automotive Repair" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 127) and received an average PPP loan of $139,541 (compared to this company's $1.7M).
Similar Nearby Businesses Who Received PPP Funding:
A & M Enterprise LLC
Michigan Road Auto Center
Emerten Auto Service LLC
Industry PPP Comparison Statistics
Nationwide, 95,091 businesses in the "General Automotive Repair" industry received a total of $3.94B 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 5 employees, 96% lower than Indy Tire Centers Inc's reported 127 employees, and received an average PPP loan of $41,461, 98% lower than this company's loan of $1.7M.
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Footnotes & Information
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