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PPP Loan Data — Signature Collision Centers LLC,
Annapolis, MD
Signature Collision Centers LLC
Entity: Limited Liability Company (LLC)
Industry: Automotive Body, Paint, and Interior Repair and Maintenance
Location: Annapolis, MD
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Signature Collision Centers LLC is a limited liability company (LLC) located at 45 Hudson St in Annapolis, Maryland that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.
The company has reported itself as a White male owned business, and employed at least 254 people during the applicable loan loan period.
$
PPP Loan Information
Loan #6481318400
Loan Size:
Jobs Retained:
254Loan Approved:
2021-02-10Loan Status:
Paid in Full or ForgivenLender:
Truist BankSignature Collision Centers LLC in Annapolis, MD received a Paycheck Protection Loan of $2M through Truist Bank, which was approved in February, 2021.
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 August, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Signature Collision Centers LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 254 jobs retained, this equals an estimated average yearly compensation of $37,795 per employee1
Reported PPP Proceed Usage:
On the PPP application, Signature Collision Centers LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,997
- Utilities: $1
Business Information - Signature Collision Centers LLC in Annapolis, MD
45 Hudson St
Annapolis, MD 21401
Business Industry:
Automotive Body, Paint, and Interior Repair and Maintenance
NAICS code 811121
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Annapolis
In the Annapolis area, 9 businesses in the "Automotive Body, Paint, and Interior Repair and Maintenance" industry received a PPP loan. These local businesses reported an average of 67 employees (compared to this company's 254) and received an average PPP loan of $803,405 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Severn Auto Body Inc
Annapolis, MD
William Kelly
Annapolis, MD
Criswell Collision Center LLC
Annapolis, MD
Gott Auto Body Limited
Annapolis, MD
Bay Country Custom Vans And Upholstery Inc
Annapolis, MD
Uni-Tech Collision Repair
Annapolis, MD
Elite Auto Body
Annapolis, MD
Industry PPP Comparison Statistics
Nationwide, 41,319 businesses in the "Automotive Body, Paint, and Interior Repair and Maintenance" industry received a total of $2.52B 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 6 employees, 98% lower than Signature Collision Centers LLC's reported 254 employees, and received an average PPP loan of $61,008, 97% lower than this company's loan of $2M.
Signature Collision Centers LLC
Entity: Limited Liability Company (LLC)
Industry: Automotive Body, Paint, and Interior Repair and Maintenance
Location: Annapolis, MD
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•
Search All PPP Data
Signature Collision Centers LLC is a limited liability company (LLC) located at 45 Hudson St in Annapolis, Maryland that received a Coronavirus-related PPP loan from the SBA of $3,576,317.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 250 people during the applicable loan loan period.
$
PPP Loan Information
Loan #9744827008
Loan Size:
Jobs Retained:
250Loan Approved:
2020-04-09Loan Status:
Paid in Full or ForgivenLender:
Truist BankSignature Collision Centers LLC in Annapolis, MD received a Paycheck Protection Loan of $3.58M through Truist Bank, 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 October, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Signature Collision Centers LLC's 2019 payroll expenses are estimated to be at least $17.17M.
Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $68,665 per employee1
Reported PPP Proceed Usage:
On the PPP application, Signature Collision Centers LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,576,317
Business Information - Signature Collision Centers LLC in Annapolis, MD
45 Hudson St
Annapolis, MD 21401
Business Industry:
Automotive Body, Paint, and Interior Repair and Maintenance
NAICS code 811121
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Annapolis
In the Annapolis area, 9 businesses in the "Automotive Body, Paint, and Interior Repair and Maintenance" industry received a PPP loan. These local businesses reported an average of 67 employees (compared to this company's 250) and received an average PPP loan of $803,405 (compared to this company's $3.58M).
Similar Nearby Businesses Who Received PPP Funding:
Severn Auto Body Inc
Annapolis, MD
William Kelly
Annapolis, MD
Criswell Collision Center LLC
Annapolis, MD
Gott Auto Body Limited
Annapolis, MD
Bay Country Custom Vans And Upholstery Inc
Annapolis, MD
Uni-Tech Collision Repair
Annapolis, MD
Elite Auto Body
Annapolis, MD
Industry PPP Comparison Statistics
Nationwide, 41,319 businesses in the "Automotive Body, Paint, and Interior Repair and Maintenance" industry received a total of $2.52B 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 6 employees, 98% lower than Signature Collision Centers LLC's reported 250 employees, and received an average PPP loan of $61,008, 98% lower than this company's loan of $3.58M.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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