PPP Loan Data — Mingo Tune, Inc, Tulsa, OK
Mingo Tune, Inc is a corporation located at 9705 E 51st St in Tulsa, Oklahoma that received a Coronavirus-related PPP loan from the SBA of $46,000.00 in April, 2020. This business is a Precision Tune Auto Care franchise.
The company has reported itself as a male owned business, and employed at least ten people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Mingo Tune, Inc in Tulsa, OK received a Paycheck Protection Loan of $46,000 through Arvest Bank, 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, Mingo Tune, Inc's 2019 payroll expenses are estimated to be at least $220,800.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $22,080 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mingo Tune, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,000
Business Information - Mingo Tune, Inc in Tulsa, OK
9705 E 51st St
Tulsa, OK 74146
Automotive Oil Change and Lubrication Shops
NAICS code 811191
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Tulsa
In the Tulsa area, 3 businesses in the "Automotive Oil Change and Lubrication Shops" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 10) and received an average PPP loan of $86,700 (compared to this company's $46,000).
Similar Nearby Businesses Who Received PPP Funding:
Service Express Oklahoma, LLC
Industry PPP Comparison Statistics
Nationwide, 4,328 businesses in the "Automotive Oil Change and Lubrication Shops" industry received a total of $297.26M 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 10 employees, the same amount reported by Mingo Tune, Inc and received an average PPP loan of $68,683, 49% higher than this company's loan of $46,000.
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Footnotes & Information
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