PPP Loan Data — Triple L Mechanical, LLC, Albuquerque, NM
Triple L Mechanical, LLC is a limited liability company (LLC) located at 2718 Girard Blvd Ne in Albuquerque, New Mexico that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Triple L Mechanical, LLC in Albuquerque, NM received a Paycheck Protection Loan of $25,000 through BBVA USA, which was approved in May, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Triple L Mechanical, LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Triple L Mechanical, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Triple L Mechanical, LLC in Albuquerque, NM
2718 Girard Blvd Ne
Albuquerque, NM 87107
General Automotive Repair
NAICS code 811111
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Albuquerque
In the Albuquerque area, 32 businesses in the "General Automotive Repair" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 4) and received an average PPP loan of $42,333 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Don Brown Parts And Automotive, Inc
Andrew's Start Shop
Dependable Auto Repair Inc
Advance Concept Truck & Auto Inc
Select Auto LLC
Sparky's Automotive, LTD
A-1 Auto Solutions LLC
Ivy Paint And Body, LLC
Industry PPP Comparison Statistics
Nationwide, 95,091 businesses in the "General Automotive Repair" industry received a total of $3.94B 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 5 employees, 25% higher than Triple L Mechanical, LLC's reported 4 employees, and received an average PPP loan of $41,461, 66% higher than this company's loan of $25,000.
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Footnotes & Information
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