PPP Loan Data — Universal Auto Group I, Inc, Tacoma, WA
Universal Auto Group I, Inc is a subchapter s corporation located at 4101 S Tacoma Way in Tacoma, Washington that received a Coronavirus-related PPP loan from the SBA of $1,977,400.00 in April, 2020. This business is a Chrysler - Sales and Service Agreement franchise.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Live Oak Banking Company
Universal Auto Group I, Inc in Tacoma, WA received a Paycheck Protection Loan of $1.98M through Live Oak Banking Company, 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 May, 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, Universal Auto Group I, Inc's 2019 payroll expenses are estimated to be at least $9.49M.
Based on their reported 168 jobs retained, this equals an estimated average yearly compensation of $56,497 per employee1
Reported PPP Proceed Usage:
On the PPP application, Universal Auto Group I, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,977,400
Business Information - Universal Auto Group I, Inc in Tacoma, WA
4101 S Tacoma Way
Tacoma, WA 98409
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 Tacoma
In the Tacoma area, 17 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 94 employees (compared to this company's 168) and received an average PPP loan of $1,189,976 (compared to this company's $1.98M).
Similar Nearby Businesses Who Received PPP Funding:
Car Pros Automotive Group, Inc
Tacoma Automotive Holdings, LLC
Bruce Titus Automotive Group, Inc
Auto Haven LLC
A. H. Dinsmore Inc
Bltps Investments, LLC
Larson Motors, Inc
Titus-Will Import Sales, Inc
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, 69% lower than Universal Auto Group I, Inc's reported 168 employees, and received an average PPP loan of $618,860, 69% lower than this company's loan of $1.98M.
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Footnotes & Information
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