PPP Loan Data — Lopez Tire Inc, Miami, FL
Lopez Tire Inc is a corporation located at 14122 Sw 142 Avenue in Miami, Florida that received a Coronavirus-related PPP loan from the SBA of $46,875.00 in June, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lopez Tire Inc in Miami, FL received a Paycheck Protection Loan of $46,875 through Kabbage, Inc., which was approved in June, 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, Lopez Tire Inc's 2019 payroll expenses are estimated to be at least $225,000.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $56,250 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lopez Tire Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,875
Business Information - Lopez Tire Inc in Miami, FL
14122 Sw 142 Avenue
Miami, FL 33186
All Other Automotive Repair and Maintenance
NAICS code 811198
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Miami
In the Miami area, 20 businesses in the "All Other Automotive Repair and Maintenance" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 4) and received an average PPP loan of $25,425 (compared to this company's $46,875).
Similar Nearby Businesses Who Received PPP Funding:
Transmission Guys Corp
Lycan Motorsports LLC
Lopez Tirez Inc
Benz And Bmerz Of Miami Inc
Lopez T.iRE Auto LLC
Dade Equipment Maintenance Corp
Industry PPP Comparison Statistics
Nationwide, 17,942 businesses in the "All Other Automotive Repair and Maintenance" industry received a total of $688.12M 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 4 employees, the same amount reported by Lopez Tire Inc and received an average PPP loan of $38,352, 18% lower than this company's loan of $46,875.
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Footnotes & Information
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