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PPP Loan Data — Jennings Motor Company, Inc.,
Springfield, VA
Jennings Motor Company, Inc.
Entity: Subchapter S Corporation
Industry: New Car Dealers
Location: Springfield, VA
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Jennings Motor Company, Inc. is a subchapter s corporation located at 7601 Loisdale Rd in Springfield, Virginia that received a Coronavirus-related PPP loan from the SBA of $2,596,215.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
247Loan Approved:
2020-04-13Lender:
TOYOTA FINANCIAL SAVINGS BANKJennings Motor Company, Inc. in Springfield, VA received a Paycheck Protection Loan of $2.6M through TOYOTA FINANCIAL SAVINGS BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Jennings Motor Company, Inc.'s total 2019 payroll expenses were approximately $12.46M in order to qualify for the PPP loan amount received.
Based on their reported 247 jobs retained, this equals an estimated average yearly compensation of $50,453 per employee1.
Business Information - Jennings Motor Company, Inc. in Springfield, VA
7601 Loisdale Rd
Springfield, VA 22150
Business Industry
New Car Dealers (NAICS code 441110)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: VA-08Similar Companies near Springfield
In the Springfield area, 6 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 80 employees (compared to this company's 247) and received an average PPP loan of $911,267 (compared to this company's $2.6M).
Similar Nearby Businesses Who Received PPP Funding:
H & H Springfield Inc
Springfield, VA
Safford Hyundai Of Springfield, LLC
Springfield, VA
Handley Motor Company, Inc.
Springfield, VA
Springfield Nissan LLC
Springfield, VA
Springfield Motors, Inc.
Springfield, VA
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, 81% lower than Jennings Motor Company, Inc.'s reported 247 employees, and received an average PPP loan of $656,005, 75% lower than this company's loan of $2.6M.
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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