PPP Loan Data — T & M Auto Body, Inc, Watertown, SD
T & M Auto Body, Inc
Entity: Subchapter S Corporation
Location: Watertown, SDTweet This • Search All PPP Data
T & M Auto Body, Inc is a subchapter s corporation located at 210 N Broadway in Watertown, South Dakota that received a Coronavirus-related PPP loan from the SBA of $45,804.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Great Western Bank
T & M Auto Body, Inc in Watertown, SD received a Paycheck Protection Loan of $45,804 through Great Western Bank, 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 March, 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, T & M Auto Body, Inc's 2019 payroll expenses are estimated to be at least $219,859.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $43,972 per employee1
Reported PPP Proceed Usage:
On the PPP application, T & M Auto Body, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,804
Business Information - T & M Auto Body, Inc in Watertown, SD
210 N Broadway
Watertown, SD 57201
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: N
Rural / Urban: Urban
Similar Companies near Watertown
In the Watertown area, 11 businesses in the "Automotive Body, Paint, and Interior Repair and Maintenance" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 5) and received an average PPP loan of $69,685 (compared to this company's $45,804).
Similar Nearby Businesses Who Received PPP Funding:
Nick's Auto Works
Lt's Cutting Edgz Inc
Veeders Collision Center
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 & M Auto Body, Inc's reported 5 employees, and received an average PPP loan of $60,493, 32% higher than this company's loan of $45,804.
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