PPP Loan Data — Laura Buick-Gmc, Inc, Collinsville, IL
Laura Buick-Gmc, Inc is a corporation located at 903 N Bluff Rd 0.0 in Collinsville, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,289,150.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Laura Buick-Gmc, Inc in Collinsville, IL received a Paycheck Protection Loan of $2.29M through JPMorgan Chase Bank, National Association, 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, Laura Buick-Gmc, Inc's 2019 payroll expenses are estimated to be at least $10.99M.
Based on their reported 130 jobs retained, this equals an estimated average yearly compensation of $84,522 per employee1
Reported PPP Proceed Usage:
On the PPP application, Laura Buick-Gmc, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,159,883
- Health Care: $129,267
Business Information - Laura Buick-Gmc, Inc in Collinsville, IL
903 N Bluff Rd 0.0
Collinsville, IL 62234
New Car Dealers
NAICS code 441110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Collinsville
In the Collinsville area, 5 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 39 employees (compared to this company's 130) and received an average PPP loan of $604,925 (compared to this company's $2.29M).
Similar Nearby Businesses Who Received PPP Funding:
Jack Schmitt Ford, Inc
Chester Chrysler Center, Inc
Roadman Auto Sales And Service LLC
Industry PPP Comparison Statistics
Nationwide, 19,896 businesses in the "New Car Dealers" industry received a total of $12.31B 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 52 employees, 60% lower than Laura Buick-Gmc, Inc's reported 130 employees, and received an average PPP loan of $618,860, 73% lower than this company's loan of $2.29M.
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Footnotes & Information
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