PPP Loan Data — Train Auto Sales & Rentals, Inc, Mauldin, SC
Train Auto Sales & Rentals, Inc
Location: Mauldin, SCTweet This • Search All PPP Data
Train Auto Sales & Rentals, Inc is a corporation located at 461 N. Main St in Mauldin, South Carolina that received a Coronavirus-related PPP loan from the SBA of $46,400.00 in April, 2020.
The company has reported itself as an Asian male owned business, and employed at least seven people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of Travelers Rest
Train Auto Sales & Rentals, Inc in Mauldin, SC received a Paycheck Protection Loan of $46,400 through Bank of Travelers Rest, 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 February, 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, Train Auto Sales & Rentals, Inc's 2019 payroll expenses are estimated to be at least $222,720.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $31,817 per employee1
Reported PPP Proceed Usage:
On the PPP application, Train Auto Sales & Rentals, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $37,600
- Utilities: $3,000
- Rent: $5,800
Business Information - Train Auto Sales & Rentals, Inc in Mauldin, SC
461 N. Main St
Mauldin, SC 29662
Automobile and Other Motor Vehicle Merchant Wholesalers
NAICS code 423110
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Mauldin
In the Mauldin area, 2 businesses in the "Automobile and Other Motor Vehicle Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 7) and received an average PPP loan of $33,617 (compared to this company's $46,400).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 10,057 businesses in the "Automobile and Other Motor Vehicle Merchant Wholesalers" industry received a total of $989.93M 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 9 employees, 29% higher than Train Auto Sales & Rentals, Inc's reported 7 employees, and received an average PPP loan of $98,432, 112% higher than this company's loan of $46,400.
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