PPP Loan Data — Sands Chevrolet, LLC, Surprise, AZ
Sands Chevrolet, LLC is a limited liability company (LLC) located at 16991 W Waddell Road 0.0 in Surprise, Arizona that received a Coronavirus-related PPP loan from the SBA of $1,652,777.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Sands Chevrolet, LLC in Surprise, AZ received a Paycheck Protection Loan of $1.65M through JPMorgan Chase Bank, National Association, which was approved in April, 2020.
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, Sands Chevrolet, LLC's 2019 payroll expenses are estimated to be at least $7.93M.
Based on their reported 135 jobs retained, this equals an estimated average yearly compensation of $58,765 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sands Chevrolet, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,279,777
- Utilities: $46,000
- Mortgage Interest: $35,000
- Rent: $163,000
- Health Care: $43,000
- Debt Interest: $86,000
Business Information - Sands Chevrolet, LLC in Surprise, AZ
16991 W Waddell Road 0.0
Surprise, AZ 85388
New Car Dealers
NAICS code 441110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Surprise
In the Surprise area, 6 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 76 employees (compared to this company's 135) and received an average PPP loan of $883,818 (compared to this company's $1.65M).
Similar Nearby Businesses Who Received PPP Funding:
PW Surprise, LLC
Halo Hyundai, Inc
303 Nissan LLC
Sands Imports, LLC
SUB West, LLC
Industry PPP Comparison Statistics
Nationwide, 19,896 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, 61% lower than Sands Chevrolet, LLC's reported 135 employees, and received an average PPP loan of $618,860, 63% lower than this company's loan of $1.65M.
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Footnotes & Information
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