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PPP Loan Data — Westbury Jeep Chrysler Dodge Ram, Jericho, NY

SBA PPP loan data, payroll data, and salaries for Westbury Jeep Chrysler Dodge Ram
NY

Westbury Jeep Chrysler Dodge Ram

Entity: Subchapter S Corporation

Industry: New Car Dealers

Location: Jericho, NY

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Westbury Jeep Chrysler Dodge Ram is a subchapter s corporation located at 100 Jericho Tpk in Jericho, New York that received a Coronavirus-related PPP loan from the SBA of $2,985,505.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.99M

Jobs Retained:

206

Loan Approved:

2020-04-10

Lender:

VALLEY NATIONAL BANK

Westbury Jeep Chrysler Dodge Ram received a Paycheck Protection Loan of $2.99M through VALLEY NATIONAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Westbury Jeep Chrysler Dodge Ram's total 2019 payroll expenses were approximately $14.33M in order to qualify for the PPP loan amount received.

Based on their reported 206 jobs retained, this equals an estimated average yearly compensation of $69,565 per employee1.

Because the loan received by Westbury Jeep Chrysler Dodge Ram is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Westbury Jeep Chrysler Dodge Ram in Jericho, NY

Westbury Jeep Chrysler Dodge Ram
100 Jericho Tpk
Jericho, NY 11753

Business Industry

New Car Dealers (NAICS code 441110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NY-03

Similar Companies near Jericho

In the Jericho area, 2 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 103 employees (compared to this company's 206) and received an average PPP loan of $1,875,077 (compared to this company's $2.99M).

Similar Nearby Businesses Who Received PPP Funding:

Porsche Gold Coast
Jericho, NY

$764,649 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 16,570 businesses in the "New Car Dealers" industry received a total of $10,869,996,969.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 47 employees, 77% lower than Westbury Jeep Chrysler Dodge Ram's reported 206 employees, and received an average PPP loan of $656,005, 78% lower than this company's loan of $2.99M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/westbury-jeep-chrysler-dodge-ram-jericho-ny