PPP Loan Data — Jim Burke Automotive, Inc, Birmingham, AL
Jim Burke Automotive, Inc is a corporation located at 1301 5th Ave in Birmingham, Alabama that received a Coronavirus-related PPP loan from the SBA of $2,548,702.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 231 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Jim Burke Automotive, Inc in Birmingham, AL received a Paycheck Protection Loan of $2.55M through BBVA USA, which was approved in April, 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, Jim Burke Automotive, Inc's 2019 payroll expenses are estimated to be at least $12.23M.
Based on their reported 231 jobs retained, this equals an estimated average yearly compensation of $52,960 per employee1
Reported PPP Proceed Usage:
On the PPP application, Jim Burke Automotive, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,911,527
- Utilities: $318,588
- Mortgage Interest: $318,588
Business Information - Jim Burke Automotive, Inc in Birmingham, AL
1301 5th Ave
Birmingham, AL 35228
New Car Dealers
NAICS code 441110
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
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, 77% lower than Jim Burke Automotive, Inc's reported 231 employees, and received an average PPP loan of $618,860, 76% lower than this company's loan of $2.55M.
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Footnotes & Information
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