PPP Loan Data — Buffalo Taxi Services Inc, Kenmore, NY
Buffalo Taxi Services Inc is a corporation located at 2630 Elmwood Ave in Kenmore, New York that received a Coronavirus-related PPP loan from the SBA of $45,989.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Buffalo Taxi Services Inc in Kenmore, NY received a Paycheck Protection Loan of $45,989 through Bank of America, 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 April, 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, Buffalo Taxi Services Inc's 2019 payroll expenses are estimated to be at least $220,747.
Based on their reported 50 jobs retained, this equals an estimated average yearly compensation of $4,415 per employee1
Reported PPP Proceed Usage:
On the PPP application, Buffalo Taxi Services Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,989
Business Information - Buffalo Taxi Services Inc in Kenmore, NY
2630 Elmwood Ave
Kenmore, NY 14217
Other Support Activities for Road Transportation
NAICS code 488490
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Kenmore
In the Kenmore area, 2 businesses in the "Other Support Activities for Road Transportation" industry received a PPP loan. These local businesses reported an average of 26 employees (compared to this company's 50) and received an average PPP loan of $30,751 (compared to this company's $45,989).
Similar Nearby Businesses Who Received PPP Funding:
Fosters Auto Transport
Industry PPP Comparison Statistics
Nationwide, 10,832 businesses in the "Other Support Activities for Road Transportation" industry received a total of $409.57M 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 4 employees, 92% lower than Buffalo Taxi Services Inc's reported 50 employees, and received an average PPP loan of $37,811, 18% lower than this company's loan of $45,989.
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Footnotes & Information
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