PPP Loan Data — T And J Auto, Malden, MA
T And J Auto
Entity: Subchapter S Corporation
Location: Malden, MATweet This • Search All PPP Data
T And J Auto is a subchapter s corporation located at 30 Charles Street in Malden, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $25,100.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Citizens Bank, National Association
T And J Auto in Malden, MA received a Paycheck Protection Loan of $25,100 through Citizens Bank, National Association, 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, T And J Auto's 2019 payroll expenses are estimated to be at least $120,480.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,096 per employee1
Reported PPP Proceed Usage:
On the PPP application, T And J Auto reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,100
Business Information - T And J Auto in Malden, MA
30 Charles Street
Malden, MA 2148
Automotive Body, Paint, and Interior Repair and Maintenance
NAICS code 811121
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Malden
In the Malden area, 31 businesses in the "Automotive Body, Paint, and Interior Repair and Maintenance" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 5) and received an average PPP loan of $42,930 (compared to this company's $25,100).
Similar Nearby Businesses Who Received PPP Funding:
Louis A Botelho
Malden Broadway Auto Body
Vivid Touch Auto Body, Inc
New Craft Collision Center, Inc
Century Auto Collison & Service Center Inc
George's Auto Refinishing Inc
Industry PPP Comparison Statistics
Nationwide, 41,993 businesses in the "Automotive Body, Paint, and Interior Repair and Maintenance" industry received a total of $2.54B 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 6 employees, 20% higher than T And J Auto's reported 5 employees, and received an average PPP loan of $60,493, 141% higher than this company's loan of $25,100.
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