PPP Loan Data — William Russell, Chattanooga, TN
William Russell is a sole proprietorship located at 4204 N Access Rd in Chattanooga, Tennessee that received a Coronavirus-related PPP loan from the SBA of $46,250.00 in January, 2021.
The company has reported itself as an American indian or alaska native male owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
William Russell in Chattanooga, TN received a Paycheck Protection Loan of $46,250 through Regions Bank, which was approved in January, 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, William Russell's 2019 payroll expenses are estimated to be at least $222,000.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $44,400 per employee1
Reported PPP Proceed Usage:
On the PPP application, William Russell reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,250
Business Information - William Russell in Chattanooga, TN
4204 N Access Rd
Chattanooga, TN 37415
General Automotive Repair
NAICS code 811111
Business Owner Demographics
Race: American Indian or Alaska Native
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Chattanooga
In the Chattanooga area, 14 businesses in the "General Automotive Repair" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 5) and received an average PPP loan of $29,402 (compared to this company's $46,250).
Similar Nearby Businesses Who Received PPP Funding:
Michael Brainard DBA K&M Auto Repair
Smith Automotive Solutions - Hixson, Inc
Forester's Tire And Auto Repair, Inc
German Autohaus, LLC
James Thompson DBA Topless Auto
Charles L Morrow
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, the same amount reported by William Russell and received an average PPP loan of $41,461, 10% lower than this company's loan of $46,250.
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Footnotes & Information
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