PPP Loan Data — Precision Auto Corp, Indianapolis, IN
Precision Auto Corp
Entity: Subchapter S Corporation
Location: Indianapolis, INTweet This • Search All PPP Data
Precision Auto Corp is a subchapter s corporation located at 3115 Lafayette Rd in Indianapolis, Indiana that received a Coronavirus-related PPP loan from the SBA of $25,146.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:KeyBank National Association
Precision Auto Corp in Indianapolis, IN received a Paycheck Protection Loan of $25,146 through KeyBank National Association, which was approved in May, 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
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, Precision Auto Corp's 2019 payroll expenses are estimated to be at least $120,701.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $12,070 per employee1
Reported PPP Proceed Usage:
On the PPP application, Precision Auto Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,146
Business Information - Precision Auto Corp in Indianapolis, IN
3115 Lafayette Rd
Indianapolis, IN 46222
Automotive Body, Paint, and Interior Repair and Maintenance
NAICS code 811121
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Indianapolis
In the Indianapolis area, 5 businesses in the "Automotive Body, Paint, and Interior Repair and Maintenance" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 10) and received an average PPP loan of $76,068 (compared to this company's $25,146).
Similar Nearby Businesses Who Received PPP Funding:
Paintman Auto Body LLC
Speedway Body Shop Inc
Industry PPP Comparison Statistics
Nationwide, 41,993 businesses in the "Automotive Body, Paint, and Interior Repair and Maintenance" industry received a total of $2.54B 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, 40% lower than Precision Auto Corp's reported 10 employees, and received an average PPP loan of $60,493, 141% higher than this company's loan of $25,146.
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