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PPP Loan Data — Kelly Automotive Group Inc,
Danvers, MA
Kelly Automotive Group Inc
Entity: Corporation
Industry: New Car Dealers
Location: Danvers, MA
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Kelly Automotive Group Inc is a corporation located at 155 Andover St in Danvers, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $6,410,840.00 in May, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
444Loan Approved:
2020-05-01Lender:
BANK OF AMERICA, NATIONAL ASSOCIATIONKelly Automotive Group Inc received a Paycheck Protection Loan of $6.41M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in May, 2020.
Based on standard PPP eligibility rules, Kelly Automotive Group Inc's total 2019 payroll expenses were approximately $30.77M in order to qualify for the PPP loan amount received.
Based on their reported 444 jobs retained, this equals an estimated average yearly compensation of $69,306 per employee1.
Business Information - Kelly Automotive Group Inc in Danvers, MA
155 Andover St
Danvers, MA 1923
Business Industry
New Car Dealers (NAICS code 441110)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: MA-06Similar Companies near Danvers
In the Danvers area, 7 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 140 employees (compared to this company's 444) and received an average PPP loan of $1,994,583 (compared to this company's $6.41M).
Similar Nearby Businesses Who Received PPP Funding:
Village Motors North, Inc.
Danvers, MA
Herb Chambers Andover Street Inc
Danvers, MA
Herb Chambers I-95, Inc.
Danvers, MA
Moore Gmc Truck Inc
Danvers, MA
North Shore Auto LLC
Danvers, MA
International Cars LTD Inc
Danvers, MA
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, 89% lower than Kelly Automotive Group Inc's reported 444 employees, and received an average PPP loan of $656,005, 90% lower than this company's loan of $6.41M.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.
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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