Roy Robinson, Inc in Tulalip, WA - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — Roy Robinson, Inc, Tulalip, WA

Roy Robinson, Inc

Entity: Corporation

Industry: New Car Dealers

Location: Tulalip, WA

Roy Robinson, Inc is a corporation located at 6616 35th Ave Ne in Tulalip, Washington that received a Coronavirus-related PPP loan from the SBA of $3,355,300.00 in April, 2020.

$ PPP Loan Information
Loan #6503897002

Loan Size:

$3.36M

Jobs Retained:

225

Loan Approved:

2020-04-07

Loan Status:

Ongoing Loan

Lender:

Mountain Pacific Bank

Roy Robinson, Inc in Tulalip, WA received a Paycheck Protection Loan of $3.36M through Mountain Pacific Bank, 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.

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.

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, Roy Robinson, Inc's 2019 payroll expenses are estimated to be at least $16.11M.

Based on their reported 225 jobs retained, this equals an estimated average yearly compensation of $71,580 per employee¹

Reported PPP Proceed Usage:

On the PPP application, Roy Robinson, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $3,355,300

Because the loan received by Roy Robinson, Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Roy Robinson, Inc in Tulalip, WA

Roy Robinson, Inc
6616 35th Ave Ne
Tulalip, WA 98271

Business Industry:
New Car Dealers
NAICS code 441110

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Snohomish County, WA — SBA Office 1013 — Congressional District: WA-02

Similar Companies near Tulalip

In the Tulalip area, 8 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 65 employees (compared to this company's 225) and received an average PPP loan of $936,614 (compared to this company's $3.36M).

Similar Nearby Businesses Who Received PPP Funding:

Speedway Chevrolet LLC
Monroe, WA

$820,000 PPP Loan

Legacy Automotive Group, Inc
Marysville, WA

$793,490 PPP Loan

Walker Motor Works, LLC
Marysville, WA

$52,000 PPP Loan

Kfmw LLC
Marysville, WA

$1.17M PPP Loan

Hofm, Inc
Marysville, WA

$662,800 PPP Loan

All Make Auto Sales LLC
Monroe, WA

$22,425 PPP Loan

DOM, Inc
Monroe, WA

$620,500 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 19,844 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, 77% lower than Roy Robinson, Inc's reported 225 employees, and received an average PPP loan of $620,298, 82% lower than this company's loan of $3.36M.

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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