PPP Loan Data — Last Chance Diesel, Ogden, UT
Last Chance Diesel is a limited liability company (LLC) located at 2789 Midland Dr in Ogden, Utah that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:America First FCU
Last Chance Diesel in Ogden, UT received a Paycheck Protection Loan of $25,000 through America First FCU, 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 February, 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, Last Chance Diesel's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Last Chance Diesel reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Last Chance Diesel in Ogden, UT
2789 Midland Dr
Ogden, UT 84401
General Automotive Repair
NAICS code 811111
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Ogden
In the Ogden area, 21 businesses in the "General Automotive Repair" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 2) and received an average PPP loan of $44,670 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Duo-Tech Auto Diesel
West Haven, UT
Old School Body Shop
Jensen Auto Service LLC
Anderson Auto Body And Paint LLC
West Haven, UT
Redbeards Wicked Rides LLC
Donald E & Michael A Gallagher
JER Auto Care, LLC
Bexell Auto Service
Law Inc Mm
Industry PPP Comparison Statistics
Nationwide, 95,091 businesses in the "General Automotive Repair" industry received a total of $3.94B 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 5 employees, 150% higher than Last Chance Diesel's reported 2 employees, and received an average PPP loan of $41,461, 66% higher than this company's loan of $25,000.
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Footnotes & Information
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