PPP Loan Data — Pete Moore Chevrolet, Inc, Pensacola, FL
Pete Moore Chevrolet, Inc is a subchapter s corporation located at 103 New Warrington Rd in Pensacola, Florida that received a Coronavirus-related PPP loan from the SBA of $1,703,517.00 in April, 2020. This business is a General Motors, LLC (Chevrolet, Buick, GM, Cadillac) Dealer Sales and Service Agreement franchise.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Pete Moore Chevrolet, Inc in Pensacola, FL received a Paycheck Protection Loan of $1.7M through Ally Bank, 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 January, 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, Pete Moore Chevrolet, Inc's 2019 payroll expenses are estimated to be at least $8.18M.
Based on their reported 146 jobs retained, this equals an estimated average yearly compensation of $56,006 per employee1
Reported PPP Proceed Usage:
On the PPP application, Pete Moore Chevrolet, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,703,517
Business Information - Pete Moore Chevrolet, Inc in Pensacola, FL
103 New Warrington Rd
Pensacola, FL 32506
New Car Dealers
NAICS code 441110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Pensacola
In the Pensacola area, 13 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 84 employees (compared to this company's 146) and received an average PPP loan of $973,172 (compared to this company's $1.7M).
Similar Nearby Businesses Who Received PPP Funding:
Allen Turner Automotive, Inc
Astro Lincoln Mercury Inc
KIA Autosport Of Pensacola, Inc
Sandy Sansing Chrysler Dodge Jeep Ram LLC
Centennial Imports Inc
Ivan Technologies, Inc
Step One Automotive Bgc Pn, LLC
Sandy Sansing Cars, 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, 64% lower than Pete Moore Chevrolet, Inc's reported 146 employees, and received an average PPP loan of $618,860, 64% lower than this company's loan of $1.7M.
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Footnotes & Information
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