PPP Loan Data — Platinum Auto And Truck, White Marsh, MD
Platinum Auto And Truck is a corporation located at 11021 Pulaski Hwy in White Marsh, Maryland that received a Coronavirus-related PPP loan from the SBA of $24,907.00 in July, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Platinum Auto And Truck in White Marsh, MD received a Paycheck Protection Loan of $24,907 through Quontic Bank, which was approved in July, 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, Platinum Auto And Truck's 2019 payroll expenses are estimated to be at least $119,554.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $29,889 per employee1
Reported PPP Proceed Usage:
On the PPP application, Platinum Auto And Truck reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,907
Business Information - Platinum Auto And Truck in White Marsh, MD
11021 Pulaski Hwy
White Marsh, MD 21162
Used Car Dealers
NAICS code 441120
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 40,336 businesses in the "Used Car Dealers" industry received a total of $2.19B 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 6 employees, 50% higher than Platinum Auto And Truck's reported 4 employees, and received an average PPP loan of $54,194, 118% higher than this company's loan of $24,907.
FederalPay's PPP Information Policy
Footnotes & Information
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