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PPP Loan Data — Northwest Tire Inc, Bismarck, ND

SBA PPP loan data, payroll data, and salaries for Northwest Tire Inc
ND

Northwest Tire Inc

Entity: Corporation

Industry: Tire Dealers

Location: Bismarck, ND

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Northwest Tire Inc is a corporation located at 1615 Bismarck Expy in Bismarck, North Dakota that received a Coronavirus-related PPP loan from the SBA of $3,058,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.06M

Jobs Retained:

295

Loan Approved:

2020-04-05

Lender:

AMERICAN BANK CENTER

Northwest Tire Inc in Bismarck, ND received a Paycheck Protection Loan of $3.06M through AMERICAN BANK CENTER, which was approved in April, 2020.

Based on standard PPP eligibility rules, Northwest Tire Inc's total 2019 payroll expenses were approximately $14.68M in order to qualify for the PPP loan amount received.

Based on their reported 295 jobs retained, this equals an estimated average yearly compensation of $49,757 per employee1.

Because the loan received by Northwest Tire Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Northwest Tire Inc in Bismarck, ND

Northwest Tire Inc
1615 Bismarck Expy
Bismarck, ND 58506

Business Industry

Tire Dealers (NAICS code 441320)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: NON-VETERAN

Congressional District: ND-

Industry PPP Comparison Statistics

Nationwide, 5,869 businesses in the "Tire Dealers" industry received a total of $664,120,532.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 11 employees, 96% lower than Northwest Tire Inc's reported 295 employees, and received an average PPP loan of $113,157, 96% lower than this company's loan of $3.06M.

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.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/northwest-tire-inc-bismarck-nd