PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Respect Auto Yonkers LLC, Yonkers, NY

ALERT: There are 2 PPP loans for a total of $2.9M in our database for businesses with the name "Respect Auto Yonkers LLC" in Yonkers, NY. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Respect Auto Yonkers LLC

FRANCHISE

NY

Respect Auto Yonkers LLC

Entity: Limited Liability Company (LLC)

Industry: New Car Dealers

Franchise: Kia Dealer Sales and Service Agreement

Location: Yonkers, NY

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Respect Auto Yonkers LLC is a limited liability company (LLC) located at 1850 Central Park Ave in Yonkers, New York that received a Coronavirus-related PPP loan from the SBA of $1,236,232.00 in February, 2021. This business is a Kia Dealer Sales and Service Agreement franchise.

The company has reported itself as a White male owned business, and employed at least 86 people during the applicable loan loan period.

$ PPP Loan Information
Loan #1466118409

Loan Size:

$1.24M

Jobs Retained:

86

Loan Approved:

2021-02-02

Loan Status:

Ongoing Loan

Lender:

Hanover Community Bank

Respect Auto Yonkers LLC in Yonkers, NY received a Paycheck Protection Loan of $1.24M through Hanover Community Bank, which was approved in February, 2021.

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, Respect Auto Yonkers LLC's 2019 payroll expenses are estimated to be at least $5.93M.

Based on their reported 86 jobs retained, this equals an estimated average yearly compensation of $68,999 per employee1

Reported PPP Proceed Usage:

On the PPP application, Respect Auto Yonkers LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,236,225
  • Utilities: $1

Business Information - Respect Auto Yonkers LLC in Yonkers, NY

Respect Auto Yonkers LLC
1850 Central Park Ave
Yonkers, NY 10710

Business Industry:
New Car Dealers
NAICS code 441110

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Westchester County, NY — SBA Office 0202 — Congressional District: NY-16

Similar Companies near Yonkers

In the Yonkers area, 4 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 90 employees (compared to this company's 86) and received an average PPP loan of $1,213,286 (compared to this company's $1.24M).

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, 40% lower than Respect Auto Yonkers LLC's reported 86 employees, and received an average PPP loan of $618,860, 50% lower than this company's loan of $1.24M.

SBA PPP loan data, payroll data, and salaries for Respect Auto Yonkers LLC
NY

Respect Auto Yonkers LLC

Entity: Limited Liability Company (LLC)

Industry: New Car Dealers

Location: Yonkers, NY

Search All PPP Data

Respect Auto Yonkers LLC is a limited liability company (LLC) located at 1850 Central Park Ave. in Yonkers, New York that received a Coronavirus-related PPP loan from the SBA of $1,664,915.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 120 people during the applicable loan loan period.

$ PPP Loan Information
Loan #4120657102

Loan Size:

$1.66M

Jobs Retained:

120

Loan Approved:

2020-04-12

Loan Status:

Ongoing Loan

Lender:

KeyBank National Association

Respect Auto Yonkers LLC in Yonkers, NY received a Paycheck Protection Loan of $1.66M through KeyBank 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, Respect Auto Yonkers LLC's 2019 payroll expenses are estimated to be at least $7.99M.

Based on their reported 120 jobs retained, this equals an estimated average yearly compensation of $66,597 per employee1

Reported PPP Proceed Usage:

On the PPP application, Respect Auto Yonkers LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,664,915

Business Information - Respect Auto Yonkers LLC in Yonkers, NY

Respect Auto Yonkers LLC
1850 Central Park Ave.
Yonkers, NY 10710

Business Industry:
New Car Dealers
NAICS code 441110

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age:

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Westchester County, NY — SBA Office 0202 — Congressional District: NY-16

Similar Companies near Yonkers

In the Yonkers area, 4 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 90 employees (compared to this company's 120) and received an average PPP loan of $1,213,286 (compared to this company's $1.66M).

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, 57% lower than Respect Auto Yonkers LLC's reported 120 employees, and received an average PPP loan of $618,860, 63% lower than this company's loan of $1.66M.

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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Source: www.federalpay.org/paycheck-protection-program/respect-auto-yonkers-llc-yonkers-ny