PPP Loan Data — JCR Automotive LLC, Elizabeth City, NC
JCR Automotive LLC is a limited liability company (LLC) located at 709 Corsair Cir in Elizabeth City, North Carolina that received a Coronavirus-related PPP loan from the SBA of $25,500.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Atlantic Union Bank
JCR Automotive LLC in Elizabeth City, NC received a Paycheck Protection Loan of $25,500 through Atlantic Union Bank, 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 May, 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, JCR Automotive LLC's 2019 payroll expenses are estimated to be at least $122,400.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,800 per employee1
Reported PPP Proceed Usage:
On the PPP application, JCR Automotive LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,500
Business Information - JCR Automotive LLC in Elizabeth City, NC
709 Corsair Cir
Elizabeth City, NC 27909
Automotive Parts and Accessories Stores
NAICS code 441310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Elizabeth City
In the Elizabeth City area, 2 businesses in the "Automotive Parts and Accessories Stores" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 3) and received an average PPP loan of $37,388 (compared to this company's $25,500).
Similar Nearby Businesses Who Received PPP Funding:
Bedliners Plus LLC
Elizabeth City, NC
Industry PPP Comparison Statistics
Nationwide, 17,983 businesses in the "Automotive Parts and Accessories Stores" industry received a total of $1.2B 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 8 employees, 167% higher than JCR Automotive LLC's reported 3 employees, and received an average PPP loan of $66,454, 161% higher than this company's loan of $25,500.
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Footnotes & Information
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