PPP Loan Data — Miller's Automotive Speed & Marine, Inc, Visalia, CA
Miller's Automotive Speed & Marine, Inc
Entity: Subchapter S Corporation
Location: Visalia, CATweet This • Search All PPP Data
Miller's Automotive Speed & Marine, Inc is a subchapter s corporation located at 1510 E Main St. Ste A in Visalia, California that received a Coronavirus-related PPP loan from the SBA of $24,895.00 in July, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Miller's Automotive Speed & Marine, Inc in Visalia, CA received a Paycheck Protection Loan of $24,895 through Quontic Bank, which was approved in July, 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, Miller's Automotive Speed & Marine, Inc's 2019 payroll expenses are estimated to be at least $119,496.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $19,916 per employee1
Reported PPP Proceed Usage:
On the PPP application, Miller's Automotive Speed & Marine, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,895
Business Information - Miller's Automotive Speed & Marine, Inc in Visalia, CA
1510 E Main St. Ste A
Visalia, CA 93292
Other Automotive Mechanical and Electrical Repair and Maintenance
NAICS code 811118
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Visalia
In the Visalia area, 7 businesses in the "Other Automotive Mechanical and Electrical Repair and Maintenance" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 6) and received an average PPP loan of $15,018 (compared to this company's $24,895).
Similar Nearby Businesses Who Received PPP Funding:
Schmidty Racing Suspensions
Industry PPP Comparison Statistics
Nationwide, 22,608 businesses in the "Other Automotive Mechanical and Electrical Repair and Maintenance" industry received a total of $645.02M 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 3 employees, 50% lower than Miller's Automotive Speed & Marine, Inc's reported 6 employees, and received an average PPP loan of $28,531, 15% higher than this company's loan of $24,895.
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Footnotes & Information
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