PPP Loan Data — Peterbilt Of Wisconsin, Inc, Hartland, WI

FRANCHISE

Peterbilt Of Wisconsin, Inc

Entity: Corporation

Industry: Automobile and Other Motor Vehicle Merchant Wholesalers

Franchise: Peterbilt Motors Company -Dealer Sales and Service Agreement

Location: Hartland, WI

Peterbilt Of Wisconsin, Inc is a corporation located at 1320 Walnut Ridge Dr Ste 100 in Hartland, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $4,410,700.00 in April, 2020. This business is a Peterbilt Motors Company -Dealer Sales and Service Agreement franchise.

$ PPP Loan Information
Loan #7520027006

Loan Size:

$4.41M

Jobs Retained:

333

Loan Approved:

2020-04-07

Loan Status:

Paid in Full or Forgiven

Lender:

Peoples State Bank

Peterbilt Of Wisconsin, Inc in Hartland, WI received a Paycheck Protection Loan of $4.41M through Peoples State 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 July, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

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, Peterbilt Of Wisconsin, Inc's 2019 payroll expenses are estimated to be at least $21.17M.

Based on their reported 333 jobs retained, this equals an estimated average yearly compensation of $63,578 per employee¹

Reported PPP Proceed Usage:

On the PPP application, Peterbilt Of Wisconsin, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $4,410,700

Because the loan received by Peterbilt Of Wisconsin, 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 - Peterbilt Of Wisconsin, Inc in Hartland, WI

Peterbilt Of Wisconsin, Inc
1320 Walnut Ridge Dr Ste 100
Hartland, WI 53029

Business Industry:
Automobile and Other Motor Vehicle Merchant Wholesalers
NAICS code 423110

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Waukesha County, WI — SBA Office 0563 — Congressional District: WI-05

Businesses Using Same Address:

There are 6 other businesses that received a PPP loan registered to the same address as Peterbilt Of Wisconsin, Inc.

JX Leasing, Inc
Truck, Utility Trailer, and RV (Recreational Vehicle) Rental and Leasing

$301,100 PPP Loan

Wausau Truck Center, Inc
Automobile and Other Motor Vehicle Merchant Wholesalers

$743,100 PPP Loan

Peterbilt Illinois - Joliet, Inc
Automobile and Other Motor Vehicle Merchant Wholesalers

$781,400 PPP Loan

Mclean County Truck Company, Inc
Automobile and Other Motor Vehicle Merchant Wholesalers

$947,300 PPP Loan

Peterbilt Illinois - Chicago, Inc
Automobile and Other Motor Vehicle Merchant Wholesalers

$1.04M PPP Loan

Peterbilt Of Indiana, Inc
Automobile and Other Motor Vehicle Merchant Wholesalers

$1.72M PPP Loan

Similar Companies near Hartland

In the Hartland area, 11 businesses in the "Automobile and Other Motor Vehicle Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 79 employees (compared to this company's 333) and received an average PPP loan of $1,030,530 (compared to this company's $4.41M).

Similar Nearby Businesses Who Received PPP Funding:

Peterbilt Illinois - Chicago, Inc
Hartland, WI

$1.04M PPP Loan

Peterbilt Illinois - Joliet, Inc
Hartland, WI

$781,400 PPP Loan

Wausau Truck Center, Inc
Hartland, WI

$743,100 PPP Loan

Mclean County Truck Company, Inc
Hartland, WI

$947,300 PPP Loan

American Remarketing Services Inc
Hartland, WI

$20,832 PPP Loan

Peterbilt Of Michigan, Inc
Hartland, WI

$1.61M PPP Loan

Trigon Inc
Hartland, WI

$16,581 PPP Loan

Peterbilt Of Indiana, Inc
Hartland, WI

$1.72M PPP Loan

Industry PPP Comparison Statistics

Nationwide, 9,732 businesses in the "Automobile and Other Motor Vehicle Merchant Wholesalers" industry received a total of $982.77M 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 9 employees, 97% lower than Peterbilt Of Wisconsin, Inc's reported 333 employees, and received an average PPP loan of $100,984, 98% lower than this company's loan of $4.41M.

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.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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