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PPP Loan Data — Kost Tire Distributors, Inc.,
Clarks Summit, PA
Kost Tire Distributors, Inc.
Entity: Subchapter S Corporation
Industry: Tire Dealers
Location: Clarks Summit, PA
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Kost Tire Distributors, Inc. is a subchapter s corporation located at 925 S State Street in Clarks Summit, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $2,849,100.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 241 people during the applicable loan loan period.
$ PPP Loan Information
Loan Size:
Jobs Retained:
241Loan Approved:
2020-04-04Lender:
FIDELITY DEPOSIT AND DISCOUNT BANKKost Tire Distributors, Inc. in Clarks Summit, PA received a Paycheck Protection Loan of $2.85M through FIDELITY DEPOSIT AND DISCOUNT BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Kost Tire Distributors, Inc.'s total 2019 payroll expenses were approximately $13.68M in order to qualify for the PPP loan amount received.
Based on their reported 241 jobs retained, this equals an estimated average yearly compensation of $56,746 per employee1.
Business Information - Kost Tire Distributors, Inc. in Clarks Summit, PA
925 S State Street
Clarks Summit, PA 18411
Business Industry
Tire Dealers (NAICS code 441320)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: Unreported
Congressional District: PA-08Industry PPP Comparison Statistics
Nationwide, 5,869 businesses in the "Tire Dealers" industry received a total of $664,120,532.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 11 employees, 95% lower than Kost Tire Distributors, Inc.'s reported 241 employees, and received an average PPP loan of $113,157, 96% lower than this company's loan of $2.85M.
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, 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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