PPP Loan Data — Paul Miller Performance LLC, Wayne, NJ
Paul Miller Performance LLC is a limited liability company (LLC) located at 1515 State Route 23 in Wayne, New Jersey that received a Coronavirus-related PPP loan from the SBA of $1,655,420.00 in April, 2020. This business is a BMW of North America, LLC - Center Agreement franchise.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Valley National Bank
Paul Miller Performance LLC in Wayne, NJ received a Paycheck Protection Loan of $1.66M through Valley 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, Paul Miller Performance LLC's 2019 payroll expenses are estimated to be at least $7.95M.
Based on their reported 108 jobs retained, this equals an estimated average yearly compensation of $73,574 per employee1
Reported PPP Proceed Usage:
On the PPP application, Paul Miller Performance LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,655,420
Business Information - Paul Miller Performance LLC in Wayne, NJ
1515 State Route 23
Wayne, NJ 7470
New Car Dealers
NAICS code 441110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Wayne
In the Wayne area, 7 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 71 employees (compared to this company's 108) and received an average PPP loan of $990,309 (compared to this company's $1.66M).
Similar Nearby Businesses Who Received PPP Funding:
Bergen Auto Enterprises LLC
Automotive Management Services Inc
Ryan Motors Of Passaic Inc
Wayne Motors, Inc
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, 52% lower than Paul Miller Performance LLC's reported 108 employees, and received an average PPP loan of $618,860, 63% lower than this company's loan of $1.66M.
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Footnotes & Information
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