PPP Loan Data — Sunrise Ford, Fontana, CA
Sunrise Ford is a subchapter s corporation located at 16005 Valley Blvd in Fontana, California that received a Coronavirus-related PPP loan from the SBA of $2,500,200.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Sunrise Ford in Fontana, CA received a Paycheck Protection Loan of $2.5M through Comerica Bank, 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, Sunrise Ford's 2019 payroll expenses are estimated to be at least $12M.
Based on their reported 199 jobs retained, this equals an estimated average yearly compensation of $60,306 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sunrise Ford reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,000,168
- Mortgage Interest: $500,032
Business Information - Sunrise Ford in Fontana, CA
16005 Valley Blvd
Fontana, CA 92335
New Car Dealers
NAICS code 441110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Fontana
In the Fontana area, 7 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 75 employees (compared to this company's 199) and received an average PPP loan of $886,315 (compared to this company's $2.5M).
Similar Nearby Businesses Who Received PPP Funding:
MEC Holding Company
Big Truck & Equipment Sales, LLC
Luxury Auto Sales, LLC
Montclair Automotive Services, Inc
Industry PPP Comparison Statistics
Nationwide, 19,896 businesses in the "New Car Dealers" industry received a total of $12.31B 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 52 employees, 74% lower than Sunrise Ford's reported 199 employees, and received an average PPP loan of $618,860, 75% lower than this company's loan of $2.5M.
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Footnotes & Information
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