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PPP Loan Data — Busco Inc,
Omaha, NE
Busco Inc
Entity: Corporation
Industry: Charter Bus Industry
Location: Omaha, NE
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Busco Inc is a corporation located at 4220 S 52nd St in Omaha, Nebraska that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.
$
PPP Loan Information
Loan #7559708601
Loan Size:
Jobs Retained:
285Loan Approved:
2021-03-23Loan Status:
Paid in Full or ForgivenLender:
Access BankBusco Inc in Omaha, NE received a Paycheck Protection Loan of $2M through Access Bank, which was approved in March, 2021.
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 January, 2022.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Busco Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 285 jobs retained, this equals an estimated average yearly compensation of $33,684 per employee1
Reported PPP Proceed Usage:
On the PPP application, Busco Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,995
- Utilities: $1
Business Information - Busco Inc in Omaha, NE
4220 S 52nd St
Omaha, NE 68117
Business Industry:
Charter Bus Industry
NAICS code 485510
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 2,191 businesses in the "Charter Bus Industry" industry received a total of $359.33M 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 22 employees, 92% lower than Busco Inc's reported 285 employees, and received an average PPP loan of $164,003, 92% lower than this company's loan of $2M.
Busco, Inc
Entity: Corporation
Industry: Charter Bus Industry
Location: Omaha, NE
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Busco, Inc is a corporation located at 4220 S 52nd Street in Omaha, Nebraska that received a Coronavirus-related PPP loan from the SBA of $5,565,900.00 in April, 2020.
$
PPP Loan Information
Loan #9195837203
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-28Loan Status:
Ongoing LoanLender:
Union Bank and Trust CompanyBusco, Inc in Omaha, NE received a Paycheck Protection Loan of $5.57M through Union Bank and Trust Company, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Busco, Inc's 2019 payroll expenses are estimated to be at least $26.72M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $53,433 per employee1
Reported PPP Proceed Usage:
On the PPP application, Busco, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $5,565,900
Business Information - Busco, Inc in Omaha, NE
4220 S 52nd Street
Omaha, NE 68117
Business Industry:
Charter Bus Industry
NAICS code 485510
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 2,191 businesses in the "Charter Bus Industry" industry received a total of $359.33M 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 22 employees, 96% lower than Busco, Inc's reported 500 employees, and received an average PPP loan of $164,003, 97% lower than this company's loan of $5.57M.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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