PPP Loan Data — My Auto Import Center LLC, Muskegon, MI
My Auto Import Center LLC is a limited liability company (LLC) located at 1860 E Sternberg Rd in Muskegon, Michigan that received a Coronavirus-related PPP loan from the SBA of $1,607,100.00 in April, 2020. This business is a Toyota Motors Sales, U.S.A., Inc. - Dealer Agreement franchise.
The company has reported itself as a White male owned business, and employed at least 165 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:The Huntington National Bank
My Auto Import Center LLC in Muskegon, MI received a Paycheck Protection Loan of $1.61M through The Huntington National 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, My Auto Import Center LLC's 2019 payroll expenses are estimated to be at least $7.71M.
Based on their reported 165 jobs retained, this equals an estimated average yearly compensation of $46,752 per employee1
Reported PPP Proceed Usage:
On the PPP application, My Auto Import Center LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,607,100
Business Information - My Auto Import Center LLC in Muskegon, MI
1860 E Sternberg Rd
Muskegon, MI 49444
New Car Dealers
NAICS code 441110
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: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 19,896 businesses in the "New Car Dealers" industry received a total of $12.31B 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 52 employees, 68% lower than My Auto Import Center LLC's reported 165 employees, and received an average PPP loan of $618,860, 61% lower than this company's loan of $1.61M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!