PPP Loan Data — Jeff's Auto Repair, Windham, ME
Jeff's Auto Repair is a sole proprietorship located at 940 Roosevelt Trail in Windham, Maine that received a Coronavirus-related PPP loan from the SBA of $46,031.00 in April, 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
Jeff's Auto Repair in Windham, ME received a Paycheck Protection Loan of $46,031 through Evergreen CU, which was approved in April, 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 December, 2020.
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, Jeff's Auto Repair's 2019 payroll expenses are estimated to be at least $220,949.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $55,237 per employee1
Reported PPP Proceed Usage:
On the PPP application, Jeff's Auto Repair reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,031
Business Information - Jeff's Auto Repair in Windham, ME
940 Roosevelt Trail
Windham, ME 4062
Tax Preparation Services
NAICS code 541213
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Windham
In the Windham area, 2 businesses in the "Tax Preparation Services" 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 $23,886 (compared to this company's $46,031).
Similar Nearby Businesses Who Received PPP Funding:
Daniel G Krueger Ea
Ocean Park, ME
Industry PPP Comparison Statistics
Nationwide, 50,853 businesses in the "Tax Preparation Services" industry received a total of $1.1B 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 3 employees, 25% lower than Jeff's Auto Repair's reported 4 employees, and received an average PPP loan of $21,684, 53% lower than this company's loan of $46,031.
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Footnotes & Information
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