PPP Loan Data — Mack's Paint & Body Shopinc, Hartselle, AL
Mack's Paint & Body Shopinc
Location: Hartselle, ALTweet This • Search All PPP Data
Mack's Paint & Body Shopinc is a corporation located at 114 Main St E in Hartselle, Alabama that received a Coronavirus-related PPP loan from the SBA of $47,036.00 in January, 2021.
The company has reported itself as a male owned business, and employed at least six people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Peoples Bank of Alabama
Mack's Paint & Body Shopinc in Hartselle, AL received a Paycheck Protection Loan of $47,036 through Peoples Bank of Alabama, which was approved in January, 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, Mack's Paint & Body Shopinc's 2019 payroll expenses are estimated to be at least $225,773.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $37,629 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mack's Paint & Body Shopinc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,034
- Utilities: $1
Business Information - Mack's Paint & Body Shopinc in Hartselle, AL
114 Main St E
Hartselle, AL 35640
Automotive Body, Paint, and Interior Repair and Maintenance
NAICS code 811121
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Hartselle
In the Hartselle area, 6 businesses in the "Automotive Body, Paint, and Interior Repair and Maintenance" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 6) and received an average PPP loan of $37,414 (compared to this company's $47,036).
Similar Nearby Businesses Who Received PPP Funding:
Mack's Paint And Body Shop Inc
Benjamin J Kelly
ACE Body Shop, Inc
Colors Precision Paint & Body, Inc
Industry PPP Comparison Statistics
Nationwide, 41,993 businesses in the "Automotive Body, Paint, and Interior Repair and Maintenance" industry received a total of $2.54B 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, the same amount reported by Mack's Paint & Body Shopinc and received an average PPP loan of $60,493, 29% higher than this company's loan of $47,036.
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