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PPP Loan Data — New Country Motorcars Of Palm Beach, LLC,
West Palm Beach, FL
New Country Motorcars Of Palm Beach, LLC
Entity: Limited Liability Company (LLC)
Industry: New Car Dealers
Location: West Palm Beach, FL
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New Country Motorcars Of Palm Beach, LLC is a limited liability company (LLC) located at 4000 Okeechobee Boulevard in West Palm Beach, Florida that received a Coronavirus-related PPP loan from the SBA of $3,465,900.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
243Loan Approved:
2020-04-15Lender:
MANUFACTURERS AND TRADERS TRUST COMPANYNew Country Motorcars Of Palm Beach, LLC received a Paycheck Protection Loan of $3.47M through MANUFACTURERS AND TRADERS TRUST COMPANY, which was approved in April, 2020.
Based on standard PPP eligibility rules, New Country Motorcars Of Palm Beach, LLC's total 2019 payroll expenses were approximately $16.64M in order to qualify for the PPP loan amount received.
Based on their reported 243 jobs retained, this equals an estimated average yearly compensation of $68,462 per employee1.
Business Information - New Country Motorcars Of Palm Beach, LLC in West Palm Beach, FL
4000 Okeechobee Boulevard
West Palm Beach, FL 33409
Business Industry
New Car Dealers (NAICS code 441110)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: FL-20Similar Companies near West Palm Beach
In the West Palm Beach area, 11 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 33 employees (compared to this company's 243) and received an average PPP loan of $989,681 (compared to this company's $3.47M).
Similar Nearby Businesses Who Received PPP Funding:
Schumacher Auto Group, Inc.
West Palm Beach, FL
EFN West Palm Motor Sales, LLC
West Palm Beach, FL
Bob Ford Incorporated
Juno Beach, FL
Pdmm LLC
West Palm Beach, FL
Mercury Beach LLC
Juno Beach, FL
Foreign Affairs Auto Inc.
West Palm Beach, FL
Marino Performance, Inc.
West Palm Beach, FL
Schumacher Volkswagen Inc.
West Palm Beach, FL
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, 81% lower than New Country Motorcars Of Palm Beach, LLC's reported 243 employees, and received an average PPP loan of $656,005, 81% lower than this company's loan of $3.47M.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) 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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