PPP Loan Data — Salmon Qwik Lube And Rental Center LLC, Salmon, ID
Salmon Qwik Lube And Rental Center LLC is a limited liability company (LLC) located at 1212 Shoup St in Salmon, Idaho that received a Coronavirus-related PPP loan from the SBA of $25,400.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Idaho Central CU
Salmon Qwik Lube And Rental Center LLC in Salmon, ID received a Paycheck Protection Loan of $25,400 through Idaho Central 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 March, 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, Salmon Qwik Lube And Rental Center LLC's 2019 payroll expenses are estimated to be at least $121,920.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,480 per employee1
Reported PPP Proceed Usage:
On the PPP application, Salmon Qwik Lube And Rental Center LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,400
Business Information - Salmon Qwik Lube And Rental Center LLC in Salmon, ID
1212 Shoup St
Salmon, ID 83467
General Automotive Repair
NAICS code 811111
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Salmon
In the Salmon area, 5 businesses in the "General Automotive Repair" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 4) and received an average PPP loan of $20,593 (compared to this company's $25,400).
Similar Nearby Businesses Who Received PPP Funding:
Baldwin Diesel Injection LLC
Good News Garage
Industry PPP Comparison Statistics
Nationwide, 95,091 businesses in the "General Automotive Repair" industry received a total of $3.94B 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 5 employees, 25% higher than Salmon Qwik Lube And Rental Center LLC's reported 4 employees, and received an average PPP loan of $41,461, 63% higher than this company's loan of $25,400.
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Footnotes & Information
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