PPP Loan Data — North Shore Auto LLC, Danvers, MA
North Shore Auto LLC is a limited liability company (LLC) located at 80 Andover St in Danvers, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $323,792.00 in April, 2020.
The company has reported itself as a female owned business, and employed at least 25 people during the applicable loan loan period.
$ PPP Loan Information
North Shore Auto LLC received a Paycheck Protection Loan of $323,792 through EASTERN BANK, which was approved in April, 2020.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 0.
Based on standard PPP eligibility rules, North Shore Auto LLC's total 2019 payroll expenses were approximately $1.55M in order to qualify for the PPP loan amount received.
Based on their reported 25 jobs retained, this equals an estimated average yearly compensation of $62,168 per employee1.
Business Information - North Shore Auto LLC in Danvers, MA
80 Andover St
Danvers, MA 1923
New Car Dealers (NAICS code 441110)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: FEMALE OWNED
Veteran Status: NON-VETERANCongressional District: MA-06
Similar Companies near Danvers
In the Danvers area, 7 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 140 employees (compared to this company's 25) and received an average PPP loan of $1,994,583 (compared to this company's $323,792).
Similar Nearby Businesses Who Received PPP Funding:
Kelly Automotive Group Inc
Herb Chambers I-95, Inc.
International Cars LTD Inc
Herb Chambers Andover Street Inc
Moore Gmc Truck Inc
Village Motors North, 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, 88% higher than North Shore Auto LLC's reported 25 employees, and received an average PPP loan of $656,005, 103% higher than this company's loan of $323,792.
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. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
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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