PPP Loan Data — Jeff Belzer's Todd Chevrolet, Inc., Lakeville, MN
Jeff Belzer's Todd Chevrolet, Inc. is a corporation located at 21111 Cedar Ave in Lakeville, Minnesota that received a Coronavirus-related PPP loan from the SBA of $2,636,185.00 in April, 2020.
$ PPP Loan Information
Lender:FRANDSEN BANK & TRUST
Jeff Belzer's Todd Chevrolet, Inc. in Lakeville, MN received a Paycheck Protection Loan of $2.64M through FRANDSEN BANK & TRUST, which was approved in April, 2020.
Based on standard PPP eligibility rules, Jeff Belzer's Todd Chevrolet, Inc.'s total 2019 payroll expenses were approximately $12.65M in order to qualify for the PPP loan amount received.
Based on their reported 177 jobs retained, this equals an estimated average yearly compensation of $71,490 per employee1.
Business Information - Jeff Belzer's Todd Chevrolet, Inc. in Lakeville, MN
21111 Cedar Ave
Lakeville, MN 55044
New Car Dealers (NAICS code 441110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MN-02
Similar Companies near Lakeville
In the Lakeville area, 2 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 89 employees (compared to this company's 177) and received an average PPP loan of $1,333,405 (compared to this company's $2.64M).
Similar Nearby Businesses Who Received PPP Funding:
S Willman Trucking Inc
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, 73% lower than Jeff Belzer's Todd Chevrolet, Inc.'s reported 177 employees, and received an average PPP loan of $656,005, 75% lower than this company's loan of $2.64M.
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, and is published unmodified, as provided by the SBA.
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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