PPP Loan Data — Rothrock Motor Sales Inc, Allentown, PA
Rothrock Motor Sales Inc is a corporation located at 1648 Plaza Lane in Allentown, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $1,648,200.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
Rothrock Motor Sales Inc in Allentown, PA received a Paycheck Protection Loan of $1.65M through PNC 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, Rothrock Motor Sales Inc's 2019 payroll expenses are estimated to be at least $7.91M.
Based on their reported 169 jobs retained, this equals an estimated average yearly compensation of $46,813 per employee1
Reported PPP Proceed Usage:
On the PPP application, Rothrock Motor Sales Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,648,200
Business Information - Rothrock Motor Sales Inc in Allentown, PA
1648 Plaza Lane
Allentown, PA 18104
New Car Dealers
NAICS code 441110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Allentown
In the Allentown area, 15 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 88 employees (compared to this company's 169) and received an average PPP loan of $1,098,180 (compared to this company's $1.65M).
Similar Nearby Businesses Who Received PPP Funding:
Bennett T LLC
Ciocca Volkswagen Of Allentown Inc
Haldeman Ford Lincoln Inc
Lehigh Valley Motor Cars Inc
JH Bennett Inc
Outten Chevrolet, Inc
Varnit Enterprises Inc
Allentown Car Connection Inc
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, 69% lower than Rothrock Motor Sales Inc's reported 169 employees, and received an average PPP loan of $618,860, 62% lower than this company's loan of $1.65M.
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Footnotes & Information
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