PPP Loan Data — Jim Bass Ford, Inc, San Angelo, TX
Jim Bass Ford, Inc is a corporation located at 4032 West Houston Harte Expressway in San Angelo, Texas that received a Coronavirus-related PPP loan from the SBA of $1,977,100.00 in April, 2020. This business is a Ford Motor Company Dealer Sales and Service Agreement franchise.
The company has reported itself as a male owned business, and employed at least 140 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:1st Community FCU
Jim Bass Ford, Inc in San Angelo, TX received a Paycheck Protection Loan of $1.98M through 1st Community FCU, 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 April, 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, Jim Bass Ford, Inc's 2019 payroll expenses are estimated to be at least $9.49M.
Based on their reported 140 jobs retained, this equals an estimated average yearly compensation of $67,786 per employee1
Reported PPP Proceed Usage:
On the PPP application, Jim Bass Ford, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,977,100
Business Information - Jim Bass Ford, Inc in San Angelo, TX
4032 West Houston Harte Expressway
San Angelo, TX 76901
New Car Dealers
NAICS code 441110
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near San Angelo
In the San Angelo area, 2 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 90 employees (compared to this company's 140) and received an average PPP loan of $1,153,850 (compared to this company's $1.98M).
Similar Nearby Businesses Who Received PPP Funding:
Kelly Grimsley Motor Company LLC
San Angelo, TX
Industry PPP Comparison Statistics
Nationwide, 19,896 businesses in the "New Car Dealers" industry received a total of $12.31B 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 52 employees, 63% lower than Jim Bass Ford, Inc's reported 140 employees, and received an average PPP loan of $618,860, 69% lower than this company's loan of $1.98M.
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Footnotes & Information
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