PPP Loan Data — Mccarty Automotive Inc, Greensboro, NC
Mccarty Automotive Inc is a corporation located at 4410 W Gate City Blvd in Greensboro, North Carolina that received a Coronavirus-related PPP loan from the SBA of $45,900.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Mccarty Automotive Inc in Greensboro, NC received a Paycheck Protection Loan of $45,900 through Truist Bank d/b/a Branch Banking & Trust Co, which was approved in April, 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, Mccarty Automotive Inc's 2019 payroll expenses are estimated to be at least $220,320.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $36,720 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mccarty Automotive Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,900
Business Information - Mccarty Automotive Inc in Greensboro, NC
4410 W Gate City Blvd
Greensboro, NC 27407
General Automotive Repair
NAICS code 811111
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Greensboro
In the Greensboro area, 49 businesses in the "General Automotive Repair" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 6) and received an average PPP loan of $57,353 (compared to this company's $45,900).
Similar Nearby Businesses Who Received PPP Funding:
Pisgah Church Express Oil, LLC
H2 Automotive, Inc
Mcdaniel Automotive Services LLC
R And R Car Care Center LLC
Smith Automotive, LLC
Greensboro Automotive LLC
Industry PPP Comparison Statistics
Nationwide, 95,091 businesses in the "General Automotive Repair" industry received a total of $3.94B 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 5 employees, 17% lower than Mccarty Automotive Inc's reported 6 employees, and received an average PPP loan of $41,461, 10% lower than this company's loan of $45,900.
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Footnotes & Information
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