PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Martin Newark Dealership Inc, Newark, DE

SBA PPP loan data, payroll data, and salaries for Martin Newark Dealership Inc
DE

Martin Newark Dealership Inc

Entity: Corporation

Industry: New Car Dealers

Location: Newark, DE

Search All PPP Data

Martin Newark Dealership Inc is a corporation located at 298 E Cleveland Ave in Newark, Delaware that received a Coronavirus-related PPP loan from the SBA of $2,864,715.00 in May, 2020.

$ PPP Loan Information

Loan Size:

$2.86M

Jobs Retained:

227

Loan Approved:

2020-05-01

Lender:

BANK OF AMERICA, NATIONAL ASSOCIATION

Martin Newark Dealership Inc received a Paycheck Protection Loan of $2.86M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in May, 2020.

Based on standard PPP eligibility rules, Martin Newark Dealership Inc's total 2019 payroll expenses were approximately $13.75M in order to qualify for the PPP loan amount received.

Based on their reported 227 jobs retained, this equals an estimated average yearly compensation of $60,575 per employee1.

Because the loan received by Martin Newark Dealership Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Martin Newark Dealership Inc in Newark, DE

Martin Newark Dealership Inc
298 E Cleveland Ave
Newark, DE 19711

Business Industry

New Car Dealers (NAICS code 441110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: DE-

Similar Companies near Newark

In the Newark area, 8 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 80 employees (compared to this company's 227) and received an average PPP loan of $1,221,656 (compared to this company's $2.86M).

Industry PPP Comparison Statistics

Nationwide, 16,570 businesses in the "New Car Dealers" industry received a total of $10,869,996,969.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 47 employees, 79% lower than Martin Newark Dealership Inc's reported 227 employees, and received an average PPP loan of $656,005, 77% lower than this company's loan of $2.86M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/martin-newark-dealership-inc-newark-de