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PPP Loan Data — Kelly Automotive Group Inc, Danvers, MA

SBA PPP loan data, payroll data, and salaries for Kelly Automotive Group Inc
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:

$6.41M

Jobs Retained:

444

Loan Approved:

2020-05-01

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.

Because the loan received by Kelly 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 - Kelly Automotive Group Inc in Danvers, MA

Kelly Automotive Group Inc
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-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).

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.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/kelly-automotive-group-inc-danvers-ma