PPP Loan Data — Runde Chevrolet, Inc, East Dubuque, IL
Runde Chevrolet, Inc is a subchapter s corporation located at 780 Route 35 N in East Dubuque, Illinois that received a Coronavirus-related PPP loan from the SBA of $1,586,300.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 147 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Dupaco Community CU
Runde Chevrolet, Inc in East Dubuque, IL received a Paycheck Protection Loan of $1.59M through Dupaco Community CU, 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 June, 2021.
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, Runde Chevrolet, Inc's 2019 payroll expenses are estimated to be at least $7.61M.
Based on their reported 147 jobs retained, this equals an estimated average yearly compensation of $51,798 per employee1
Reported PPP Proceed Usage:
On the PPP application, Runde Chevrolet, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,586,300
Business Information - Runde Chevrolet, Inc in East Dubuque, IL
780 Route 35 N
East Dubuque, IL 61025
NAICS code 444110
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 3,151 businesses in the "Home Centers" industry received a total of $435M 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 15 employees, 90% lower than Runde Chevrolet, Inc's reported 147 employees, and received an average PPP loan of $138,053, 91% lower than this company's loan of $1.59M.
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Footnotes & Information
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