PPP Loan Data — Larry Schaaf Auto Sales Inc, Saint Marys, OH
Larry Schaaf Auto Sales Inc is a corporation located at 1525 Celina Rd in Saint Marys, Ohio that received a Coronavirus-related PPP loan from the SBA of $24,875.00 in April, 2020.
The company has reported itself as a White female owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First National Bank in New Bremen
Larry Schaaf Auto Sales Inc in Saint Marys, OH received a Paycheck Protection Loan of $24,875 through First National Bank in New Bremen, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in March, 2021.
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, Larry Schaaf Auto Sales Inc's 2019 payroll expenses are estimated to be at least $119,400.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $39,800 per employee1
Reported PPP Proceed Usage:
On the PPP application, Larry Schaaf Auto Sales Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,875
Business Information - Larry Schaaf Auto Sales Inc in Saint Marys, OH
1525 Celina Rd
Saint Marys, OH 45885
Used Car Dealers
NAICS code 441120
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Saint Marys
In the Saint Marys area, 4 businesses in the "Used Car Dealers" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 3) and received an average PPP loan of $75,497 (compared to this company's $24,875).
Similar Nearby Businesses Who Received PPP Funding:
T & T Auto, LLC
St. Marys, OH
T & T Auto LLC
Saint Marys, OH
Edward R Holscher
Saint Marys, OH
Industry PPP Comparison Statistics
Nationwide, 40,336 businesses in the "Used Car Dealers" industry received a total of $2.19B 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 6 employees, 100% higher than Larry Schaaf Auto Sales Inc's reported 3 employees, and received an average PPP loan of $54,194, 118% higher than this company's loan of $24,875.
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Footnotes & Information
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