PPP Loan Data — Kelly Automotive Group Inc, Danvers, MA
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
Lender:BANK OF AMERICA, NATIONAL ASSOCIATION
Kelly 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
New Car Dealers (NAICS code 441110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MA-06
Similar 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.
Herb Chambers Andover Street Inc
Herb Chambers I-95, Inc.
Moore Gmc Truck Inc
North Shore Auto LLC
International Cars LTD Inc
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.
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