PPP Loan Data — Kreitz Oval Track Parts Inc, Sinking Spring, PA
Kreitz Oval Track Parts Inc is a corporation located at 785 Fritztown Rd in Sinking Spring, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $25,400.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First National Bank of Pennsylvania
Kreitz Oval Track Parts Inc in Sinking Spring, PA received a Paycheck Protection Loan of $25,400 through First National Bank of Pennsylvania, which was approved in April, 2020.
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, Kreitz Oval Track Parts Inc's 2019 payroll expenses are estimated to be at least $121,920.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,480 per employee1
Reported PPP Proceed Usage:
On the PPP application, Kreitz Oval Track Parts Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,400
Business Information - Kreitz Oval Track Parts Inc in Sinking Spring, PA
785 Fritztown Rd
Sinking Spring, PA 19608
Automotive Parts and Accessories Stores
NAICS code 441310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Sinking Spring
In the Sinking Spring area, 3 businesses in the "Automotive Parts and Accessories Stores" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 4) and received an average PPP loan of $26,296 (compared to this company's $25,400).
Similar Nearby Businesses Who Received PPP Funding:
Sinking Spring, PA
Industry PPP Comparison Statistics
Nationwide, 17,983 businesses in the "Automotive Parts and Accessories Stores" industry received a total of $1.2B 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 8 employees, 100% higher than Kreitz Oval Track Parts Inc's reported 4 employees, and received an average PPP loan of $66,454, 162% higher than this company's loan of $25,400.
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Footnotes & Information
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