PPP Loan Data — SS Diesel & Auto LLC, Chaffee, NY
SS Diesel & Auto LLC is a limited liability company (LLC) located at 11480 Olean Road in Chaffee, New York that received a Coronavirus-related PPP loan from the SBA of $46,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least six people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:New York Business Development Corporation
SS Diesel & Auto LLC in Chaffee, NY received a Paycheck Protection Loan of $46,000 through New York Business Development Corporation, 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, SS Diesel & Auto LLC's 2019 payroll expenses are estimated to be at least $220,800.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $36,800 per employee1
Reported PPP Proceed Usage:
On the PPP application, SS Diesel & Auto LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,000
Business Information - SS Diesel & Auto LLC in Chaffee, NY
11480 Olean Road
Chaffee, NY 14030
General Automotive Repair
NAICS code 811111
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
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 Chaffee
In the Chaffee area, 8 businesses in the "General Automotive Repair" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 6) and received an average PPP loan of $28,028 (compared to this company's $46,000).
Similar Nearby Businesses Who Received PPP Funding:
SS Diesel & Auto
L.m. Morehouse Enterprises Inc
Miranda Auto Inc
Stem Automotive Inc
John G. Grainy Jr. DBA Grainy's Automotive
Tom's Rt 16 Auto Service Inc
Kless Boys Full Service, LLC
Industry PPP Comparison Statistics
Nationwide, 95,091 businesses in the "General Automotive Repair" industry received a total of $3.94B 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 5 employees, 17% lower than SS Diesel & Auto LLC's reported 6 employees, and received an average PPP loan of $41,461, 10% lower than this company's loan of $46,000.
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Footnotes & Information
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