PPP Loan Data — Mutz Motors Limited Partnership, Lakeland, FL
Mutz Motors Limited Partnership is a limited liability partnership located at 1430 W Memorial Blvd in Lakeland, Florida that received a Coronavirus-related PPP loan from the SBA of $2,652,900.00 in April, 2020.
$ PPP Loan Information
Lender:TRUIST BANK D/B/A BRANCH BANKING & TRUST CO
Mutz Motors Limited Partnership in Lakeland, FL received a Paycheck Protection Loan of $2.65M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.
Based on standard PPP eligibility rules, Mutz Motors Limited Partnership's total 2019 payroll expenses were approximately $12.73M in order to qualify for the PPP loan amount received.
Based on their reported 240 jobs retained, this equals an estimated average yearly compensation of $53,058 per employee1.
Business Information - Mutz Motors Limited Partnership in Lakeland, FL
1430 W Memorial Blvd
Lakeland, FL 33815
New Car Dealers (NAICS code 441110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: FL-15
Similar Companies near Lakeland
In the Lakeland area, 2 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 120 employees (compared to this company's 240) and received an average PPP loan of $1,446,050 (compared to this company's $2.65M).
Similar Nearby Businesses Who Received PPP Funding:
Lakeland Imports Inc
Industry PPP Comparison Statistics
Nationwide, 16,570 businesses in the "New Car Dealers" industry received a total of $10,869,996,969.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 47 employees, 80% lower than Mutz Motors Limited Partnership's reported 240 employees, and received an average PPP loan of $656,005, 75% lower than this company's loan of $2.65M.
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.
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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