PPP Loan Data — J & R Car & Truck Repair Incorporated, Swansea, IL
J & R Car & Truck Repair Incorporated is a sole proprietorship located at 1700 N Belt West in Swansea, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,100.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of Belleville
J & R Car & Truck Repair Incorporated in Swansea, IL received a Paycheck Protection Loan of $25,100 through Bank of Belleville, which was approved in May, 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 January, 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, J & R Car & Truck Repair Incorporated's 2019 payroll expenses are estimated to be at least $120,480.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,120 per employee1
Reported PPP Proceed Usage:
On the PPP application, J & R Car & Truck Repair Incorporated reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $21,381
- Utilities: $1,599
- Rent: $1,998
- Debt Interest: $123
Business Information - J & R Car & Truck Repair Incorporated in Swansea, IL
1700 N Belt West
Swansea, IL 62226
General Automotive Repair
NAICS code 811111
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Swansea
In the Swansea area, 9 businesses in the "General Automotive Repair" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 4) and received an average PPP loan of $28,380 (compared to this company's $25,100).
Similar Nearby Businesses Who Received PPP Funding:
Duncans Auto & Truck Repair, Inc
Classic Auto Body Inc
HPJ Automotive And Performance
Schaefer Automotive LLC
Todd's And Mark's Auto Repair Inc
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, 25% higher than J & R Car & Truck Repair Incorporated's reported 4 employees, and received an average PPP loan of $41,461, 65% higher than this company's loan of $25,100.
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Footnotes & Information
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