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PPP Loan Data — Jack Giambolvo Motor Co., Inc., York, PA

SBA PPP loan data, payroll data, and salaries for Jack Giambolvo Motor Co., Inc.
PA

Jack Giambolvo Motor Co., Inc.

Entity: Corporation

Industry: New Car Dealers

Location: York, PA

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Jack Giambolvo Motor Co., Inc. is a corporation located at 1390 Eden Road in York, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $2,747,207.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.75M

Jobs Retained:

256

Loan Approved:

2020-04-06

Lender:

RIVERVIEW BANK

Jack Giambolvo Motor Co., Inc. received a Paycheck Protection Loan of $2.75M through RIVERVIEW BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Jack Giambolvo Motor Co., Inc.'s total 2019 payroll expenses were approximately $13.19M in order to qualify for the PPP loan amount received.

Based on their reported 256 jobs retained, this equals an estimated average yearly compensation of $51,510 per employee1.

Because the loan received by Jack Giambolvo Motor Co., Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Jack Giambolvo Motor Co., Inc. in York, PA

Jack Giambolvo Motor Co., Inc.
1390 Eden Road
York, PA 17402

Business Industry

New Car Dealers (NAICS code 441110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: PA-10

Similar Companies near York

In the York area, 6 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 256) and received an average PPP loan of $810,765 (compared to this company's $2.75M).

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, 82% lower than Jack Giambolvo Motor Co., Inc.'s reported 256 employees, and received an average PPP loan of $656,005, 76% lower than this company's loan of $2.75M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/jack-giambolvo-motor-co-inc-york-pa