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PPP Loan Data — Jim Keras Automotive Group Inc, Memphis, TN

SBA PPP loan data, payroll data, and salaries for Jim Keras Automotive Group Inc
TN

Jim Keras Automotive Group Inc

Entity: Subchapter S Corporation

Industry: New Car Dealers

Location: Memphis, TN

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Jim Keras Automotive Group Inc is a subchapter s corporation located at 2000 Covington Pike in Memphis, Tennessee that received a Coronavirus-related PPP loan from the SBA of $3,633,860.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.63M

Jobs Retained:

322

Loan Approved:

2020-04-08

Lender:

FIRST HORIZON BANK

Jim Keras Automotive Group Inc in Memphis, TN received a Paycheck Protection Loan of $3.63M through FIRST HORIZON BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Jim Keras Automotive Group Inc's total 2019 payroll expenses were approximately $17.44M in order to qualify for the PPP loan amount received.

Based on their reported 322 jobs retained, this equals an estimated average yearly compensation of $54,169 per employee1.

Because the loan received by Jim Keras Automotive Group 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 - Jim Keras Automotive Group Inc in Memphis, TN

Jim Keras Automotive Group Inc
2000 Covington Pike
Memphis, TN 38128

Business Industry

New Car Dealers (NAICS code 441110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: TN-09

Similar Companies near Memphis

In the Memphis area, 4 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 203 employees (compared to this company's 322) and received an average PPP loan of $2,332,114 (compared to this company's $3.63M).

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, 85% lower than Jim Keras Automotive Group Inc's reported 322 employees, and received an average PPP loan of $656,005, 82% lower than this company's loan of $3.63M.

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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Source: www.federalpay.org/paycheck-protection-program/jim-keras-automotive-group-inc-memphis-tn