PPP Loan Data — Washington Auto Parts Inc, Sunbury, OH
Washington Auto Parts Inc is a corporation located at 494 W. Cherry Street in Sunbury, Ohio that received a Coronavirus-related PPP loan from the SBA of $1,617,700.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:PNC Bank, National Association
Washington Auto Parts Inc in Sunbury, OH received a Paycheck Protection Loan of $1.62M through PNC 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, Washington Auto Parts Inc's 2019 payroll expenses are estimated to be at least $7.76M.
Based on their reported 225 jobs retained, this equals an estimated average yearly compensation of $34,511 per employee1
Reported PPP Proceed Usage:
On the PPP application, Washington Auto Parts Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,617,700
Business Information - Washington Auto Parts Inc in Sunbury, OH
494 W. Cherry Street
Sunbury, OH 43074
Automotive Parts and Accessories Stores
NAICS code 441310
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 17,983 businesses in the "Automotive Parts and Accessories Stores" industry received a total of $1.2B 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 8 employees, 96% lower than Washington Auto Parts Inc's reported 225 employees, and received an average PPP loan of $66,454, 96% lower than this company's loan of $1.62M.
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Footnotes & Information
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