PPP Loan Data — Tire City Discount, Paris, TX
Tire City Discount is a sole proprietorship located at 601 N Main St in Paris, Texas that received a Coronavirus-related PPP loan from the SBA of $25,300.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Guaranty Bank & Trust, National Association
Tire City Discount in Paris, TX received a Paycheck Protection Loan of $25,300 through Guaranty Bank & Trust, 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, Tire City Discount's 2019 payroll expenses are estimated to be at least $121,440.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,240 per employee1
Reported PPP Proceed Usage:
On the PPP application, Tire City Discount reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,300
Business Information - Tire City Discount in Paris, TX
601 N Main St
Paris, TX 75460
NAICS code 441320
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Paris
In the Paris area, 8 businesses in the "Tire Dealers" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 6) and received an average PPP loan of $58,381 (compared to this company's $25,300).
Similar Nearby Businesses Who Received PPP Funding:
Hicks Muffler & Tire Shop LLC
Hearne Roadrunner Tire, LLC
Bill Bass Tires & Service
Discount Wheel And Tire- Paris LLC
Industry PPP Comparison Statistics
Nationwide, 8,434 businesses in the "Tire Dealers" industry received a total of $776.34M 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 10 employees, 67% higher than Tire City Discount's reported 6 employees, and received an average PPP loan of $92,049, 264% higher than this company's loan of $25,300.
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Footnotes & Information
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