PPP Loan Data — Superior Tire Service, Inc, Salem, OR
Superior Tire Service, Inc is a subchapter s corporation located at 4230 27th Ct Se in Salem, Oregon that received a Coronavirus-related PPP loan from the SBA of $1,884,018.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:KeyBank National Association
Superior Tire Service, Inc in Salem, OR received a Paycheck Protection Loan of $1.88M through KeyBank National Association, 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 June, 2021.
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, Superior Tire Service, Inc's 2019 payroll expenses are estimated to be at least $9.04M.
Based on their reported 157 jobs retained, this equals an estimated average yearly compensation of $57,601 per employee1
Reported PPP Proceed Usage:
On the PPP application, Superior Tire Service, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,884,018
Business Information - Superior Tire Service, Inc in Salem, OR
4230 27th Ct Se
Salem, OR 97302
Tire and Tube Merchant Wholesalers
NAICS code 423130
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 1,312 businesses in the "Tire and Tube Merchant Wholesalers" industry received a total of $159.34M 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 13 employees, 92% lower than Superior Tire Service, Inc's reported 157 employees, and received an average PPP loan of $121,445, 94% lower than this company's loan of $1.88M.
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Footnotes & Information
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