PPP Loan Data — Martin Newark Dealership Inc, Newark, DE
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
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.
Business Information - Martin Newark Dealership Inc in Newark, DE
298 E Cleveland Ave
Newark, DE 19711
New Car Dealers (NAICS code 441110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional 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).
Similar Nearby Businesses Who Received PPP Funding:
RCP III LLC
William H Porter Inc
RCP IV LLC
Piazza Premium Autos Inc
Newark Chrysler Jeep Inc
Matt Slap Subaru
Royal Imports, Inc.
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.
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Footnotes & Information
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