PPP Loan Data — Scrub-A-Dub Auto Wash Ctrs Inc, Natick, MA
Scrub-A-Dub Auto Wash Ctrs Inc is a corporation located at 172 Worcester St in Natick, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $1,661,260.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:People's United Bank, National Association
Scrub-A-Dub Auto Wash Ctrs Inc in Natick, MA received a Paycheck Protection Loan of $1.66M through People's United Bank, National Association, 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 February, 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, Scrub-A-Dub Auto Wash Ctrs Inc's 2019 payroll expenses are estimated to be at least $7.97M.
Based on their reported 235 jobs retained, this equals an estimated average yearly compensation of $33,932 per employee1
Reported PPP Proceed Usage:
On the PPP application, Scrub-A-Dub Auto Wash Ctrs Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,661,260
Business Information - Scrub-A-Dub Auto Wash Ctrs Inc in Natick, MA
172 Worcester St
Natick, MA 1760
NAICS code 811192
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 26,021 businesses in the "Car Washes" industry received a total of $986.15M 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 7 employees, 97% lower than Scrub-A-Dub Auto Wash Ctrs Inc's reported 235 employees, and received an average PPP loan of $37,898, 98% lower than this company's loan of $1.66M.
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Footnotes & Information
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