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PPP Loan Data — Suburban Motors Company, LLC, Troy, MI

SBA PPP loan data, payroll data, and salaries for Suburban Motors Company, LLC
MI

Suburban Motors Company, LLC

Entity: Limited Liability Company (LLC)

Industry: New Car Dealers

Location: Troy, MI

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Suburban Motors Company, LLC is a limited liability company (LLC) located at 1810 Maplelawn in Troy, Michigan that received a Coronavirus-related PPP loan from the SBA of $3,008,000.00 in April, 2020.

The company has reported itself as a White female owned business, and employed at least 222 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$3.01M

Jobs Retained:

222

Loan Approved:

2020-04-10

Lender:

THE HUNTINGTON NATIONAL BANK

Suburban Motors Company, LLC in Troy, MI received a Paycheck Protection Loan of $3.01M through THE HUNTINGTON NATIONAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Suburban Motors Company, LLC's total 2019 payroll expenses were approximately $14.44M in order to qualify for the PPP loan amount received.

Based on their reported 222 jobs retained, this equals an estimated average yearly compensation of $65,038 per employee1.

Because the loan received by Suburban Motors Company, LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Suburban Motors Company, LLC in Troy, MI

Suburban Motors Company, LLC
1810 Maplelawn
Troy, MI 48084

Business Industry

New Car Dealers (NAICS code 441110)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: FEMALE OWNED

Veteran Status: NON-VETERAN

Congressional District: MI-11

Similar Companies near Troy

In the Troy area, 15 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 62 employees (compared to this company's 222) and received an average PPP loan of $855,983 (compared to this company's $3.01M).

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, 79% lower than Suburban Motors Company, LLC's reported 222 employees, and received an average PPP loan of $656,005, 78% lower than this company's loan of $3.01M.

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.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/suburban-motors-company-llc-troy-mi