PPP Loan Data — Willowbrook Ford Inc, Willowbrook, IL
Willowbrook Ford Inc is a subchapter s corporation located at 7301 S. Kingery Hwy in Willowbrook, Illinois that received a Coronavirus-related PPP loan from the SBA of $1,796,700.00 in April, 2020. This business is a Ford Motor Company Dealer Sales and Service Agreement franchise.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:BMO Harris Bank National Association
Willowbrook Ford Inc in Willowbrook, IL received a Paycheck Protection Loan of $1.8M through BMO Harris 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, Willowbrook Ford Inc's 2019 payroll expenses are estimated to be at least $8.62M.
Based on their reported 142 jobs retained, this equals an estimated average yearly compensation of $60,734 per employee1
Reported PPP Proceed Usage:
On the PPP application, Willowbrook Ford Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,796,700
Business Information - Willowbrook Ford Inc in Willowbrook, IL
7301 S. Kingery Hwy
Willowbrook, IL 60527
New Car Dealers
NAICS code 441110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Willowbrook
In the Willowbrook area, 4 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 41 employees (compared to this company's 142) and received an average PPP loan of $498,216 (compared to this company's $1.8M).
Similar Nearby Businesses Who Received PPP Funding:
Coda Motors, LLC
Burr Ridge, IL
Highline Auto Sales Inc
Burr Ridge, IL
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, 63% lower than Willowbrook Ford Inc's reported 142 employees, and received an average PPP loan of $618,860, 66% lower than this company's loan of $1.8M.
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Footnotes & Information
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