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PPP Loan Data — Petersen Automotive Interest, LLC, Baton Rouge, LA

SBA PPP loan data, payroll data, and salaries for Petersen Automotive Interest, LLC
LA

Petersen Automotive Interest, LLC

Entity: Subchapter S Corporation

Industry: New Car Dealers

Location: Baton Rouge, LA

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Petersen Automotive Interest, LLC is a subchapter s corporation located at 6363 Siegen Lane 0.0 in Baton Rouge, Louisiana that received a Coronavirus-related PPP loan from the SBA of $4,272,672.00 in April, 2020.

$ PPP Loan Information
Loan #9916987007

Loan Size:

$4.27M

Jobs Retained:

334

Loan Approved:

2020-04-09

Loan Status:

Ongoing Loan

Lender:

JPMorgan Chase Bank, National Association

Petersen Automotive Interest, LLC in Baton Rouge, LA received a Paycheck Protection Loan of $4.27M through JPMorgan Chase Bank, National Association, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

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.

Read More
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.

Read More

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, Petersen Automotive Interest, LLC's 2019 payroll expenses are estimated to be at least $20.51M.

Based on their reported 334 jobs retained, this equals an estimated average yearly compensation of $61,404 per employee1

Reported PPP Proceed Usage:

On the PPP application, Petersen Automotive Interest, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $3,415,937
  • Utilities: $90,331
  • Rent: $557,332
  • Health Care: $209,072
Because the loan received by Petersen Automotive Interest, LLC 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 - Petersen Automotive Interest, LLC in Baton Rouge, LA

Petersen Automotive Interest, LLC
6363 Siegen Lane 0.0
Baton Rouge, LA 70809

Business Industry:
New Car Dealers
NAICS code 441110

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

East Baton Rouge County, LA — SBA Office 0679 — Congressional District: LA-06

Similar Companies near Baton Rouge

In the Baton Rouge area, 2 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 191 employees (compared to this company's 334) and received an average PPP loan of $2,406,536 (compared to this company's $4.27M).

Similar Nearby Businesses Who Received PPP Funding:

Gerry Lane Buick-Pontiac-Gmc LLC
Baton Rouge, LA

$540,400 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 19,706 businesses in the "New Car Dealers" industry received a total of $12.26B 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, 84% lower than Petersen Automotive Interest, LLC's reported 334 employees, and received an average PPP loan of $622,043, 85% lower than this company's loan of $4.27M.

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.

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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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Source: www.federalpay.org/paycheck-protection-program/petersen-automotive-interest-llc-baton-rouge-la