PPP Loan Data — Waldorf Ford Inc, Waldorf, MD
Waldorf Ford Inc is a subchapter s corporation located at 2440 Crain Highway in Waldorf, Maryland that received a Coronavirus-related PPP loan from the SBA of $1,573,700.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Atlantic Union Bank
Waldorf Ford Inc in Waldorf, MD received a Paycheck Protection Loan of $1.57M through Atlantic Union Bank, 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, Waldorf Ford Inc's 2019 payroll expenses are estimated to be at least $7.55M.
Based on their reported 144 jobs retained, this equals an estimated average yearly compensation of $52,457 per employee1
Reported PPP Proceed Usage:
On the PPP application, Waldorf Ford Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,573,700
Business Information - Waldorf Ford Inc in Waldorf, MD
2440 Crain Highway
Waldorf, MD 20601
New Car Dealers
NAICS code 441110
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Waldorf
In the Waldorf area, 6 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 85 employees (compared to this company's 144) and received an average PPP loan of $896,222 (compared to this company's $1.57M).
Similar Nearby Businesses Who Received PPP Funding:
Waldorf Chrysler-Plymouth, Inc
Kody Domestics II, Inc
Kody Domestics LLC
Kody Imports II, LLC
Kody Imports LLC
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, 64% lower than Waldorf Ford Inc's reported 144 employees, and received an average PPP loan of $618,860, 61% lower than this company's loan of $1.57M.
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Footnotes & Information
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