PPP Loan Data — Wings Of Fire Automotive, Inc, North Attleboro, MA
Wings Of Fire Automotive, Inc is a corporation located at 404 E Washington St in North Attleboro, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $45,830.00 in April, 2020. This business is a AAMCO Transmissions franchise.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Bank of the Lake
Wings Of Fire Automotive, Inc in North Attleboro, MA received a Paycheck Protection Loan of $45,830 through First Bank of the Lake, 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, Wings Of Fire Automotive, Inc's 2019 payroll expenses are estimated to be at least $219,984.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $54,996 per employee1
Reported PPP Proceed Usage:
On the PPP application, Wings Of Fire Automotive, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,830
Business Information - Wings Of Fire Automotive, Inc in North Attleboro, MA
404 E Washington St
North Attleboro, MA 2760
Automotive Transmission Repair
NAICS code 811113
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 3,343 businesses in the "Automotive Transmission Repair" industry received a total of $137.01M 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 Wings Of Fire Automotive, Inc's reported 4 employees, and received an average PPP loan of $40,985, 11% lower than this company's loan of $45,830.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!