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PPP Loan Data — Mcgriff Tire Co., Inc, Cullman, AL

SBA PPP loan data, payroll data, and salaries for Mcgriff Tire Co., Inc
AL

Mcgriff Tire Co., Inc

Entity: Corporation

Industry: Tire Dealers

Location: Cullman, AL

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Mcgriff Tire Co., Inc is a corporation located at 86 Walnut Street in Cullman, Alabama that received a Coronavirus-related PPP loan from the SBA of $3,425,200.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 262 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$3.43M

Jobs Retained:

262

Loan Approved:

2020-04-11

Lender:

RENASANT BANK

Mcgriff Tire Co., Inc in Cullman, AL received a Paycheck Protection Loan of $3.43M through RENASANT BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Mcgriff Tire Co., Inc's total 2019 payroll expenses were approximately $16.44M in order to qualify for the PPP loan amount received.

Based on their reported 262 jobs retained, this equals an estimated average yearly compensation of $62,752 per employee1.

Because the loan received by Mcgriff Tire Co., 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 - Mcgriff Tire Co., Inc in Cullman, AL

Mcgriff Tire Co., Inc
86 Walnut Street
Cullman, AL 35055

Business Industry

Tire Dealers (NAICS code 441320)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: AL-04

Similar Companies near Cullman

In the Cullman area, 2 businesses in the "Tire Dealers" industry received a PPP loan. These local businesses reported an average of 141 employees (compared to this company's 262) and received an average PPP loan of $1,861,800 (compared to this company's $3.43M).

Similar Nearby Businesses Who Received PPP Funding:

Mcgriff Industries, Inc.
Cullman, AL

$298,400 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 5,869 businesses in the "Tire Dealers" industry received a total of $664,120,532.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 11 employees, 96% lower than Mcgriff Tire Co., Inc's reported 262 employees, and received an average PPP loan of $113,157, 97% lower than this company's loan of $3.43M.

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, 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.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/mcgriff-tire-co-inc-cullman-al