PPP Loan Data — Norm Reeves, Inc., Cerritos, CA
Norm Reeves, Inc. is a corporation located at 18500 Studebaker Rd in Cerritos, California that received a Coronavirus-related PPP loan from the SBA of $3,617,400.00 in April, 2020.
$ PPP Loan Information
Norm Reeves, Inc. received a Paycheck Protection Loan of $3.62M through COMERICA BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Norm Reeves, Inc.'s total 2019 payroll expenses were approximately $17.36M in order to qualify for the PPP loan amount received.
Based on their reported 326 jobs retained, this equals an estimated average yearly compensation of $53,262 per employee1.
Business Information - Norm Reeves, Inc. in Cerritos, CA
18500 Studebaker Rd
Cerritos, CA 90703
New Car Dealers (NAICS code 441110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: CA-38
Similar Companies near Cerritos
In the Cerritos area, 10 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 123 employees (compared to this company's 326) and received an average PPP loan of $1,378,471 (compared to this company's $3.62M).
Similar Nearby Businesses Who Received PPP Funding:
Cerritos Dodge, Inc
Cerritos Infiniti, Inc.
Cerritos Ford, Inc.
UAG Cerritos LLC
Mckenna Motors Cerritos Inc
Auto Square Autos, Inc
Jackson's Motors Inc
UAG Cerritos I LLC
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, 86% lower than Norm Reeves, Inc.'s reported 326 employees, and received an average PPP loan of $656,005, 82% lower than this company's loan of $3.62M.
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