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PPP Loan Data — C A R Transport Inc,
Burleson, TX
C A R Transport Inc
Entity: Corporation
Industry: Specialized Freight (except Used Goods) Trucking, Long-Distance
Location: Burleson, TX
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C A R Transport Inc is a corporation located at 1475 S Burleson Blvd in Burleson, Texas that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.
$
PPP Loan Information
Loan #3406558409
Loan Size:
Jobs Retained:
225Loan Approved:
2021-02-04Loan Status:
Active Un-DisbursedLender:
PlainsCapital BankC A R Transport Inc in Burleson, TX received a Paycheck Protection Loan of $2M through PlainsCapital Bank, which was approved in February, 2021.
While this loan has been approved by the Small Business Administration, the lender has not reported to the SBA that the loan funds were disbursed to the borrower. According to SBA records, a total of $2M in approved PPP funding has not been disbursed. The loan's status was last updated by the SBA in February, 2021.
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, C A R Transport Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 225 jobs retained, this equals an estimated average yearly compensation of $42,667 per employee1
Reported PPP Proceed Usage:
On the PPP application, C A R Transport Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,996
- Utilities: $1
Business Information - C A R Transport Inc in Burleson, TX
1475 S Burleson Blvd
Burleson, TX 76028
Business Industry:
Specialized Freight (except Used Goods) Trucking, Long-Distance
NAICS code 484230
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: N
HUBZone: N
Rural / Urban: Rural
Similar Companies near Burleson
In the Burleson area, 8 businesses in the "Specialized Freight (except Used Goods) Trucking, Long-Distance" industry received a PPP loan. These local businesses reported an average of 37 employees (compared to this company's 225) and received an average PPP loan of $335,078 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
27-0713290 Godspeed Logistics Inc
Burleson, TX
Sherie's Hotshot Services, LLC
Burleson, TX
COT Oilfield Services LLC
Burleson, TX
True Grit Transportation Inc
Burleson, TX
Darren Sibley
Burleson, TX
Ed-Corp Enterprises Inc
Burleson, TX
S R K Champion Inc
Burleson, TX
Industry PPP Comparison Statistics
Nationwide, 14,053 businesses in the "Specialized Freight (except Used Goods) Trucking, Long-Distance" industry received a total of $993.21M 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 6 employees, 97% lower than C A R Transport Inc's reported 225 employees, and received an average PPP loan of $70,676, 96% lower than this company's loan of $2M.
C A R Transport Inc
Entity: Corporation
Industry: Specialized Freight (except Used Goods) Trucking, Local
Location: Burleson, TX
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C A R Transport Inc is a corporation located at 1475 Burleson Blvd in Burleson, Texas that received a Coronavirus-related PPP loan from the SBA of $4,222,400.00 in April, 2020.
$
PPP Loan Information
Loan #4845607106
Loan Size:
Jobs Retained:
230Loan Approved:
2020-04-13Loan Status:
Ongoing LoanLender:
PlainsCapital BankC A R Transport Inc in Burleson, TX received a Paycheck Protection Loan of $4.22M through PlainsCapital Bank, 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, C A R Transport Inc's 2019 payroll expenses are estimated to be at least $20.27M.
Based on their reported 230 jobs retained, this equals an estimated average yearly compensation of $88,120 per employee1
Reported PPP Proceed Usage:
On the PPP application, C A R Transport Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,222,400
Business Information - C A R Transport Inc in Burleson, TX
1475 Burleson Blvd
Burleson, TX 76028
Business Industry:
Specialized Freight (except Used Goods) Trucking, Local
NAICS code 484220
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: N
HUBZone: N
Rural / Urban: Rural
Similar Companies near Burleson
In the Burleson area, 5 businesses in the "Specialized Freight (except Used Goods) Trucking, Local" industry received a PPP loan. These local businesses reported an average of 48 employees (compared to this company's 230) and received an average PPP loan of $860,973 (compared to this company's $4.22M).
Similar Nearby Businesses Who Received PPP Funding:
CDC Transport LLC
Burleson, TX
Scott Michael Parpan
Burleson, TX
ED Corp Enterprises Inc
Burleson, TX
Classic Transport LLC
Burleson, TX
Industry PPP Comparison Statistics
Nationwide, 25,630 businesses in the "Specialized Freight (except Used Goods) Trucking, Local" industry received a total of $1.9B 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 7 employees, 97% lower than C A R Transport Inc's reported 230 employees, and received an average PPP loan of $74,289, 98% lower than this company's loan of $4.22M.
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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