PPP Loan Data — Middle GA Auto Auction LLC, Macon, GA
Middle GA Auto Auction LLC is a limited liability company (LLC) located at 1090 Riverside Dr in Macon, Georgia that received a Coronavirus-related PPP loan from the SBA of $24,997.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Middle GA Auto Auction LLC in Macon, GA received a Paycheck Protection Loan of $24,997 through Bank of America, National Association, which was approved in May, 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, Middle GA Auto Auction LLC's 2019 payroll expenses are estimated to be at least $119,986.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $39,995 per employee1
Reported PPP Proceed Usage:
On the PPP application, Middle GA Auto Auction LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,997
Business Information - Middle GA Auto Auction LLC in Macon, GA
1090 Riverside Dr
Macon, GA 31201
Used Car Dealers
NAICS code 441120
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Macon
In the Macon area, 7 businesses in the "Used Car Dealers" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 3) and received an average PPP loan of $43,710 (compared to this company's $24,997).
Similar Nearby Businesses Who Received PPP Funding:
A 1 Auto Brokers LLC
Specialty Auto Brokers Of Georgia LLC
Elite Top Line Auto Sales, LLC
Designer Auto Broker LLC
Macon Signature Autos, LLC
Industry PPP Comparison Statistics
Nationwide, 40,336 businesses in the "Used Car Dealers" industry received a total of $2.19B 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, 100% higher than Middle GA Auto Auction LLC's reported 3 employees, and received an average PPP loan of $54,194, 117% higher than this company's loan of $24,997.
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Footnotes & Information
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