PPP Loan Data — Mikes Auto Glass Inc, Nogales, AZ
Mikes Auto Glass Inc is a subchapter s corporation located at 626 N Morley Ave in Nogales, Arizona that received a Coronavirus-related PPP loan from the SBA of $25,112.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Mikes Auto Glass Inc in Nogales, AZ received a Paycheck Protection Loan of $25,112 through JPMorgan Chase Bank, 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, Mikes Auto Glass Inc's 2019 payroll expenses are estimated to be at least $120,538.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,135 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mikes Auto Glass Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,112
Business Information - Mikes Auto Glass Inc in Nogales, AZ
626 N Morley Ave
Nogales, AZ 85621
Automotive Glass Replacement Shops
NAICS code 811122
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Nogales
In the Nogales area, 3 businesses in the "Automotive Glass Replacement Shops" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 4) and received an average PPP loan of $22,259 (compared to this company's $25,112).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 4,495 businesses in the "Automotive Glass Replacement Shops" industry received a total of $197.78M 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, 25% higher than Mikes Auto Glass Inc's reported 4 employees, and received an average PPP loan of $43,999, 75% higher than this company's loan of $25,112.
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Footnotes & Information
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