PPP Loan Data — Sarasota 500, LLC, Sarasota, FL
Sarasota 500, LLC is a limited liability company (LLC) located at 707 S Washington Blvd in Sarasota, Florida that received a Coronavirus-related PPP loan from the SBA of $2,323,000.00 in April, 2020. This business is a Ford Motor Company Dealer Sales and Service Agreement franchise.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:BMO Harris Bank National Association
Sarasota 500, LLC in Sarasota, FL received a Paycheck Protection Loan of $2.32M through BMO Harris 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, Sarasota 500, LLC's 2019 payroll expenses are estimated to be at least $11.15M.
Based on their reported 180 jobs retained, this equals an estimated average yearly compensation of $61,947 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sarasota 500, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,323,000
Business Information - Sarasota 500, LLC in Sarasota, FL
707 S Washington Blvd
Sarasota, FL 34236
New Car Dealers
NAICS code 441110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
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, 71% lower than Sarasota 500, LLC's reported 180 employees, and received an average PPP loan of $618,860, 73% lower than this company's loan of $2.32M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!