PPP Loan Data — JLH Automotive, Inc, Heath, OH
JLH Automotive, Inc is a subchapter s corporation located at 1515 Hebron Road in Heath, Ohio that received a Coronavirus-related PPP loan from the SBA of $1,733,910.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 142 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The Park National Bank
JLH Automotive, Inc in Heath, OH received a Paycheck Protection Loan of $1.73M through The Park National Bank, 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 March, 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, JLH Automotive, Inc's 2019 payroll expenses are estimated to be at least $8.32M.
Based on their reported 142 jobs retained, this equals an estimated average yearly compensation of $58,611 per employee1
Reported PPP Proceed Usage:
On the PPP application, JLH Automotive, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,402,910
- Utilities: $35,000
- Rent: $171,000
- Health Care: $125,000
Business Information - JLH Automotive, Inc in Heath, OH
1515 Hebron Road
Heath, OH 43056
New Car Dealers
NAICS code 441110
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Heath
In the Heath area, 8 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 47 employees (compared to this company's 142) and received an average PPP loan of $563,732 (compared to this company's $1.73M).
Similar Nearby Businesses Who Received PPP Funding:
Coughlin Automotive Of Newark LLC
Coughlin Cars.com Of Heath LLC
Coughlin Chevrolet Inc
Coughlin Automotive Of Heath LLC
Coughlin Nissan Of Heath LLC
Mathews Ford Inc
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 JLH Automotive, Inc's reported 142 employees, and received an average PPP loan of $618,860, 64% lower than this company's loan of $1.73M.
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Footnotes & Information
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