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PPP Loan Data — Jeff Belzer's Todd Chevrolet, Inc., Lakeville, MN

SBA PPP loan data, payroll data, and salaries for Jeff Belzer's Todd Chevrolet, Inc.
MN

Jeff Belzer's Todd Chevrolet, Inc.

Entity: Corporation

Industry: New Car Dealers

Location: Lakeville, MN

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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

Loan Size:

$2.64M

Jobs Retained:

177

Loan Approved:

2020-04-15

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.

Because the loan received by Jeff Belzer's Todd Chevrolet, 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 - Jeff Belzer's Todd Chevrolet, Inc. in Lakeville, MN

Jeff Belzer's Todd Chevrolet, Inc.
21111 Cedar Ave
Lakeville, MN 55044

Business Industry

New Car Dealers (NAICS code 441110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional 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
Lakeville, MN

$30,625 PPP Loan

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.

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/jeff-belzers-todd-chevrolet-inc-lakeville-mn