PPP Loan Data — Leon's Auto Sales, Inc. DBA The Auto Warehouse, Chicago, IL
Leon's Auto Sales, Inc. DBA The Auto Warehouse is a subchapter s corporation located at 3632 N Cicero Ave in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $1,823,800.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Leon's Auto Sales, Inc. DBA The Auto Warehouse in Chicago, IL received a Paycheck Protection Loan of $1.82M through Signature Bank, 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 June, 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, Leon's Auto Sales, Inc. DBA The Auto Warehouse's 2019 payroll expenses are estimated to be at least $8.75M.
Based on their reported 170 jobs retained, this equals an estimated average yearly compensation of $51,496 per employee1
Reported PPP Proceed Usage:
On the PPP application, Leon's Auto Sales, Inc. DBA The Auto Warehouse reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,823,800
Business Information - Leon's Auto Sales, Inc. DBA The Auto Warehouse in Chicago, IL
3632 N Cicero Ave
Chicago, IL 60641
Used Car Dealers
NAICS code 441120
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 16 businesses in the "Used Car Dealers" industry received a PPP loan. These local businesses reported an average of 29 employees (compared to this company's 170) and received an average PPP loan of $317,591 (compared to this company's $1.82M).
Similar Nearby Businesses Who Received PPP Funding:
Global Choices Inc
Chicago Car Center, Inc
Royal Auto Chicago Inc
Millennium Auto Sales Inc
Abdul Razak Yusuf
SKA Motors LLC
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, 96% lower than Leon's Auto Sales, Inc. DBA The Auto Warehouse's reported 170 employees, and received an average PPP loan of $54,194, 97% lower than this company's loan of $1.82M.
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Footnotes & Information
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