Automobile Dealers

Businesses and organizations in the Automobile Dealers industry (NAICS code 4411, part of the Retail Trade sector) received 59,318 PPP loans totaling $14.47B during the COVID-19 pandemic.

The average loan for this industry was $243,968 — above the national PPP average of approximately $67,000. This reflects the relatively large size of many businesses in this sector, which tend to have higher payroll costs and more employees.

94.1% of loans in this industry were forgiven — totaling $14.30B. To qualify for forgiveness, borrowers had to demonstrate that they maintained headcount and compensation levels and used at least 60% of loan proceeds for payroll expenses.

Notable recipients in this industry include TNTX, LLC of GRAPEVINE, TX ($10,000,000); FRED WEBER, INC of MARYLAND HEIGHTS, MO ($9,644,900); and MORSE OPERATIONS INC. of DELRAY BEACH, FL ($9,564,802).

The loan amount distribution for this industry shows a more even spread across loan sizes, suggesting a mix of small and mid-sized businesses. Because borrower names are withheld for loans under $150,000, a substantial portion of recipients in this industry may not appear by name in this dataset.

As part of the broader Retail Trade sector — selling merchandise to the general public for personal or household consumption. — businesses in NAICS 4411 were particularly reliant on PPP assistance to bridge the gap between declining revenues and fixed overhead obligations during the shutdown period.