PPP Loan Data — Ronnie Robinson Motors, LLC, Green Cove Springs, FL
Ronnie Robinson Motors, LLC is a limited liability company (LLC) located at 3179 Highway 17 in Green Cove Springs, Florida that received a Coronavirus-related PPP loan from the SBA of $24,955.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:South State Bank, National Association
Ronnie Robinson Motors, LLC in Green Cove Springs, FL received a Paycheck Protection Loan of $24,955 through South State Bank, National Association, which was approved in April, 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, Ronnie Robinson Motors, LLC's 2019 payroll expenses are estimated to be at least $119,784.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $39,928 per employee1
Reported PPP Proceed Usage:
On the PPP application, Ronnie Robinson Motors, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,955
Business Information - Ronnie Robinson Motors, LLC in Green Cove Springs, FL
3179 Highway 17
Green Cove Springs, FL 32043
Used Car Dealers
NAICS code 441120
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
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, 100% higher than Ronnie Robinson Motors, LLC's reported 3 employees, and received an average PPP loan of $54,194, 117% higher than this company's loan of $24,955.
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Footnotes & Information
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