PPP Loan Data — Performance Of Plano II, LTD, Plano, TX
Performance Of Plano II, LTD is a partnership located at 6888 State Highway 121 in Plano, Texas that received a Coronavirus-related PPP loan from the SBA of $1,975,300.00 in April, 2020. This business is a Toyota Motors Sales, U.S.A., Inc. - Dealer Agreement franchise.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:International Bank of Commerce
Performance Of Plano II, LTD in Plano, TX received a Paycheck Protection Loan of $1.98M through International Bank of Commerce, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in April, 2021.
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, Performance Of Plano II, LTD's 2019 payroll expenses are estimated to be at least $9.48M.
Based on their reported 153 jobs retained, this equals an estimated average yearly compensation of $61,970 per employee1
Reported PPP Proceed Usage:
On the PPP application, Performance Of Plano II, LTD reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,522,845
- Utilities: $24,000
- Rent: $375,000
- Health Care: $53,455
Business Information - Performance Of Plano II, LTD in Plano, TX
6888 State Highway 121
Plano, TX 75024
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 Plano
In the Plano area, 8 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 128 employees (compared to this company's 153) and received an average PPP loan of $1,682,651 (compared to this company's $1.98M).
Similar Nearby Businesses Who Received PPP Funding:
Corinth Automotive Plano LLC
Classic Cars Limited Partnership
Third Fourth, LLC
Ewing Buick - Plano, LP
Q'S Carmart 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, 66% lower than Performance Of Plano II, LTD's reported 153 employees, and received an average PPP loan of $618,860, 69% lower than this company's loan of $1.98M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!