PPP Loan Data — X-Ray Smog & Auto Repair Inc, Vista, CA
X-Ray Smog & Auto Repair Inc is a subchapter s corporation located at 851 Lemon Avenue in Vista, California that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:JPMorgan Chase Bank, National Association
X-Ray Smog & Auto Repair Inc in Vista, CA received a Paycheck Protection Loan of $25,000 through JPMorgan Chase Bank, National Association, which was approved in May, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in May, 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, X-Ray Smog & Auto Repair Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, X-Ray Smog & Auto Repair Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - X-Ray Smog & Auto Repair Inc in Vista, CA
851 Lemon Avenue
Vista, CA 92084
General Automotive Repair
NAICS code 811111
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Vista
In the Vista area, 40 businesses in the "General Automotive Repair" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 2) and received an average PPP loan of $33,664 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
RC Mobile Truck Service LLC
San Diego Fume Works Co.inc
Rogelio Salazar DBA Santa Fe Auto Repair
Nicholas C Rudy
Thuy Thi Le
Jklm Corporation DBA Golden Wrench Autom Otive
Barron Income Tax & Auto Registration Ll
Thuydiem T. Vo DBA Ted's Auto Repair 2
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, 150% higher than X-Ray Smog & Auto Repair Inc's reported 2 employees, and received an average PPP loan of $41,461, 66% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!