PPP Loan Data — TOI Irving, Inc, Irving, TX
TOI Irving, Inc is a corporation located at 1999 West Airport Freeway in Irving, Texas that received a Coronavirus-related PPP loan from the SBA of $2,563,200.00 in April, 2020. This business is a Gulf States Toyota, Inc. - Toyota Dealer Agreement franchise.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:BMO Harris Bank National Association
TOI Irving, Inc in Irving, TX received a Paycheck Protection Loan of $2.56M through BMO Harris 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, TOI Irving, Inc's 2019 payroll expenses are estimated to be at least $12.3M.
Based on their reported 187 jobs retained, this equals an estimated average yearly compensation of $65,793 per employee1
Reported PPP Proceed Usage:
On the PPP application, TOI Irving, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,563,200
Business Information - TOI Irving, Inc in Irving, TX
1999 West Airport Freeway
Irving, TX 75062
New Car Dealers
NAICS code 441110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Irving
In the Irving area, 11 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 102 employees (compared to this company's 187) and received an average PPP loan of $831,873 (compared to this company's $2.56M).
Similar Nearby Businesses Who Received PPP Funding:
Amigo Auto Market
Don Herring Enterprises LTD
Irving N Motor Company, LLC
Freeman Investment Company, LP
Cooley Holdings 3, LLC
Irving K Motor Company, LLC
Clay Cooley Real Estate Holdings 1, LLC
Hillman Trucking Company
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, 72% lower than TOI Irving, Inc's reported 187 employees, and received an average PPP loan of $618,860, 76% lower than this company's loan of $2.56M.
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Footnotes & Information
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