PPP Loan Data — Weber Automotive Repairs, Inc, Sherwood, AR
Weber Automotive Repairs, Inc is a corporation located at 5691 Commerce Court in Sherwood, Arkansas that received a Coronavirus-related PPP loan from the SBA of $25,250.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Weber Automotive Repairs, Inc in Sherwood, AR received a Paycheck Protection Loan of $25,250 through Arvest Bank, which was approved in May, 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 April, 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, Weber Automotive Repairs, Inc's 2019 payroll expenses are estimated to be at least $121,200.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,300 per employee1
Reported PPP Proceed Usage:
On the PPP application, Weber Automotive Repairs, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,250
Business Information - Weber Automotive Repairs, Inc in Sherwood, AR
5691 Commerce Court
Sherwood, AR 72120
General Automotive Repair
NAICS code 811111
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Sherwood
In the Sherwood area, 5 businesses in the "General Automotive Repair" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 4) and received an average PPP loan of $16,006 (compared to this company's $25,250).
Similar Nearby Businesses Who Received PPP Funding:
Rash Automotive Center LLC
Around The Way Auto
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 Weber Automotive Repairs, Inc's reported 4 employees, and received an average PPP loan of $41,461, 64% higher than this company's loan of $25,250.
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Footnotes & Information
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