PPP Loan Data — San Diego Car Stereo And Motorsports Inc, San Diego, CA
San Diego Car Stereo And Motorsports Inc
Location: San Diego, CATweet This • Search All PPP Data
San Diego Car Stereo And Motorsports Inc is a corporation located at 4220 Convoy St in San Diego, California that received a Coronavirus-related PPP loan from the SBA of $45,770.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least seven people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Wells Fargo Bank, National Association
San Diego Car Stereo And Motorsports Inc in San Diego, CA received a Paycheck Protection Loan of $45,770 through Wells Fargo Bank, National Association, which was approved in May, 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 April, 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, San Diego Car Stereo And Motorsports Inc's 2019 payroll expenses are estimated to be at least $219,696.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $31,385 per employee1
Reported PPP Proceed Usage:
On the PPP application, San Diego Car Stereo And Motorsports Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,770
Business Information - San Diego Car Stereo And Motorsports Inc in San Diego, CA
4220 Convoy St
San Diego, CA 92111
Other Automotive Mechanical and Electrical Repair and Maintenance
NAICS code 811118
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near San Diego
In the San Diego area, 5 businesses in the "Other Automotive Mechanical and Electrical Repair and Maintenance" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 7) and received an average PPP loan of $58,438 (compared to this company's $45,770).
Similar Nearby Businesses Who Received PPP Funding:
Minsky Mercedes & Bmw Service
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Speedy Auto Repair & Smog Inc
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Industry PPP Comparison Statistics
Nationwide, 22,608 businesses in the "Other Automotive Mechanical and Electrical Repair and Maintenance" industry received a total of $645.02M 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 3 employees, 57% lower than San Diego Car Stereo And Motorsports Inc's reported 7 employees, and received an average PPP loan of $28,531, 38% lower than this company's loan of $45,770.
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