PPP Loan Data — WM J Cassidy Tire & Auto Supply Co, Addison, IL
WM J Cassidy Tire & Auto Supply Co is a corporation located at 200 S Church St in Addison, Illinois that received a Coronavirus-related PPP loan from the SBA of $1,901,748.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First American Bank
WM J Cassidy Tire & Auto Supply Co in Addison, IL received a Paycheck Protection Loan of $1.9M through First American Bank, 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, WM J Cassidy Tire & Auto Supply Co's 2019 payroll expenses are estimated to be at least $9.13M.
Based on their reported 173 jobs retained, this equals an estimated average yearly compensation of $52,765 per employee1
Reported PPP Proceed Usage:
On the PPP application, WM J Cassidy Tire & Auto Supply Co reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,901,748
Business Information - WM J Cassidy Tire & Auto Supply Co in Addison, IL
200 S Church St
Addison, IL 60101
NAICS code 441320
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Addison
In the Addison area, 3 businesses in the "Tire Dealers" industry received a PPP loan. These local businesses reported an average of 60 employees (compared to this company's 173) and received an average PPP loan of $660,860 (compared to this company's $1.9M).
Similar Nearby Businesses Who Received PPP Funding:
Truck Tire Express Inc
Industry PPP Comparison Statistics
Nationwide, 8,434 businesses in the "Tire Dealers" industry received a total of $776.34M 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 10 employees, 94% lower than WM J Cassidy Tire & Auto Supply Co's reported 173 employees, and received an average PPP loan of $92,049, 95% lower than this company's loan of $1.9M.
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Footnotes & Information
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