PPP Loan Data — J&V Visions Collision Center Inc, Franklin, PA
J&V Visions Collision Center Inc
Entity: Subchapter S Corporation
Location: Franklin, PATweet This • Search All PPP Data
J&V Visions Collision Center Inc is a subchapter s corporation located at 843 Buffalo St in Franklin, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $45,900.00 in January, 2021.
The company has reported itself as a male veteran owned business, and employed at least seven people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First United National Bank
J&V Visions Collision Center Inc in Franklin, PA received a Paycheck Protection Loan of $45,900 through First United National Bank, which was approved in January, 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, J&V Visions Collision Center Inc's 2019 payroll expenses are estimated to be at least $220,320.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $31,474 per employee1
Reported PPP Proceed Usage:
On the PPP application, J&V Visions Collision Center Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,900
Business Information - J&V Visions Collision Center Inc in Franklin, PA
843 Buffalo St
Franklin, PA 16323
Automotive Body, Paint, and Interior Repair and Maintenance
NAICS code 811121
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Franklin
In the Franklin area, 4 businesses in the "Automotive Body, Paint, and Interior Repair and Maintenance" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 7) and received an average PPP loan of $63,450 (compared to this company's $45,900).
Similar Nearby Businesses Who Received PPP Funding:
Lowry Auto Body Inc
J & V Collision Center Inc
Industry PPP Comparison Statistics
Nationwide, 41,993 businesses in the "Automotive Body, Paint, and Interior Repair and Maintenance" industry received a total of $2.54B 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 6 employees, 14% lower than J&V Visions Collision Center Inc's reported 7 employees, and received an average PPP loan of $60,493, 32% higher than this company's loan of $45,900.
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