Royal Moore Buick Gmc Inc in Hillsboro, OR - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — Royal Moore Buick Gmc Inc, Hillsboro, OR

FRANCHISE

Royal Moore Buick Gmc Inc

Entity: Subchapter S Corporation

Industry: New Car Dealers

Franchise: General Motors, LLC (Chevrolet, Buick, GM, Cadillac) Dealer Sales and Service Agreement

Location: Hillsboro, OR

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Royal Moore Buick Gmc Inc is a subchapter s corporation located at 1380 Se River Rd in Hillsboro, Oregon that received a Coronavirus-related PPP loan from the SBA of $2,436,513.00 in April, 2020. This business is a General Motors, LLC (Chevrolet, Buick, GM, Cadillac) Dealer Sales and Service Agreement franchise.

$ PPP Loan Information
Loan #6956987204

Loan Size:

$2.44M

Jobs Retained:

229

Loan Approved:

2020-04-28

Loan Status:

Paid in Full or Forgiven

Lender:

U.S. Bank, National Association

Royal Moore Buick Gmc Inc in Hillsboro, OR received a Paycheck Protection Loan of $2.44M through U.S. Bank, National Association, which was approved in April, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in July, 2021.

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, Royal Moore Buick Gmc Inc's 2019 payroll expenses are estimated to be at least $11.7M.

Based on their reported 229 jobs retained, this equals an estimated average yearly compensation of $51,071 per employee¹

Reported PPP Proceed Usage:

On the PPP application, Royal Moore Buick Gmc Inc reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $2,436,513

Because the loan received by Royal Moore Buick Gmc 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 - Royal Moore Buick Gmc Inc in Hillsboro, OR

Royal Moore Buick Gmc Inc
1380 Se River Rd
Hillsboro, OR 97123

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: N

HUBZone: N

Rural / Urban: Urban

Washington County, OR — SBA Office 1086 — Congressional District: OR-01

Similar Companies near Hillsboro

In the Hillsboro area, 10 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 50 employees (compared to this company's 229) and received an average PPP loan of $581,591 (compared to this company's $2.44M).

Similar Nearby Businesses Who Received PPP Funding:

Paicifc Motors LLC
Hillsboro, OR

$10,000 PPP Loan

Me Enterprises Inc
Hillsboro, OR

$155,257 PPP Loan

Discovery Plus Motors, LLC
Hillsboro, OR

$20,832 PPP Loan

I Automotive Inc
Hillsboro, OR

$690,506 PPP Loan

Leading Edge Paint Protection LLC
Hillsboro, OR

$12,500 PPP Loan

Curtis Miller
Hillsboro, OR

$17,492 PPP Loan

Mackenzie Motor
Hillsboro, OR

$1.03M PPP Loan

Dick's Auto Sales And Leasing
Hillsboro, OR

$1.05M 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 Royal Moore Buick Gmc Inc's reported 229 employees, and received an average PPP loan of $620,298, 75% lower than this company's loan of $2.44M.

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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