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PPP Loan Data — Sterling Automotive Group, Inc.,
Opelousas, LA
Sterling Automotive Group, Inc.
Entity: Subchapter S Corporation
Industry: New Car Dealers
Location: Opelousas, LA
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Sterling Automotive Group, Inc. is a subchapter s corporation located at 5504 I 49 N Service Rd in Opelousas, Louisiana that received a Coronavirus-related PPP loan from the SBA of $3,793,300.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
328Loan Approved:
2020-04-14Lender:
HANCOCK WHITNEY BANKSterling Automotive Group, Inc. in Opelousas, LA received a Paycheck Protection Loan of $3.79M through HANCOCK WHITNEY BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Sterling Automotive Group, Inc.'s total 2019 payroll expenses were approximately $18.21M in order to qualify for the PPP loan amount received.
Based on their reported 328 jobs retained, this equals an estimated average yearly compensation of $55,512 per employee1.
Business Information - Sterling Automotive Group, Inc. in Opelousas, LA
5504 I 49 N Service Rd
Opelousas, LA 70570
Business Industry
New Car Dealers (NAICS code 441110)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: LA-05Similar Companies near Opelousas
In the Opelousas area, 5 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 90 employees (compared to this company's 328) and received an average PPP loan of $1,065,411 (compared to this company's $3.79M).
Similar Nearby Businesses Who Received PPP Funding:
Courvelle Happy Town USA Inc
Opelousas, LA
Courvelles RV Inc
Opelousas, LA
A Auto LLC
Opelousas, LA
Sterling Ford Lincoln, LLC
Opelousas, LA
Industry PPP Comparison Statistics
Nationwide, 16,570 businesses in the "New Car Dealers" industry received a total of $10,869,996,969.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 47 employees, 86% lower than Sterling Automotive Group, Inc.'s reported 328 employees, and received an average PPP loan of $656,005, 83% lower than this company's loan of $3.79M.
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, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. 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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