PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Desert Cab Inc, Las Vegas, NV

ALERT: There are 2 PPP loans for a total of $4.87M in our database for businesses with the name "Desert Cab Inc" in Las Vegas, NV. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Desert Cab Inc
NV

Desert Cab Inc

Entity: Corporation

Industry: Taxi Service

Location: Las Vegas, NV

Search All PPP Data

Desert Cab Inc is a corporation located at 4675 Wynn Rd in Las Vegas, Nevada that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.

The company has reported itself as a male owned business, and employed at least 285 people during the applicable loan loan period.

$ PPP Loan Information
Loan #7236568308

Loan Size:

$2M

Jobs Retained:

285

Loan Approved:

2021-01-28

Loan Status:

Paid in Full or Forgiven

Lender:

Meadows Bank

Desert Cab Inc in Las Vegas, NV received a Paycheck Protection Loan of $2M through Meadows Bank, which was approved in January, 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 September, 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 More
Understanding 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 More

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, Desert Cab 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, Desert Cab Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,996
  • Utilities: $1
Because the loan received by Desert Cab Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Desert Cab Inc in Las Vegas, NV

Desert Cab Inc
4675 Wynn Rd
Las Vegas, NV 89103

Business Industry:
Taxi Service
NAICS code 485310

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Clark County, NV — SBA Office 0944 — Congressional District: NV-01

Similar Companies near Las Vegas

In the Las Vegas area, 677 businesses in the "Taxi Service" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 285) and received an average PPP loan of $17,042 (compared to this company's $2M).

Industry PPP Comparison Statistics

Nationwide, 251,000 businesses in the "Taxi Service" industry received a total of $2.94B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 1 employees, 100% lower than Desert Cab Inc's reported 285 employees, and received an average PPP loan of $11,717, 99% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Desert Cab Inc
NV

Desert Cab Inc

Entity: Corporation

Industry: Taxi Service

Location: Las Vegas, NV

Search All PPP Data

Desert Cab Inc is a corporation located at 4675 Wynn Rd in Las Vegas, Nevada that received a Coronavirus-related PPP loan from the SBA of $2,874,300.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 50 people during the applicable loan loan period.

$ PPP Loan Information
Loan #5255617103

Loan Size:

$2.87M

Jobs Retained:

50

Loan Approved:

2020-04-13

Loan Status:

Paid in Full or Forgiven

Lender:

Meadows Bank
Likely Employment Reduction3

Desert Cab Inc in Las Vegas, NV received a Paycheck Protection Loan of $2.87M through Meadows Bank, which was approved in April, 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 June, 2021.

The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 50 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.

The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 138. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.

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 More
Understanding 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 More

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, Desert Cab Inc's 2019 payroll expenses are estimated to be at least $13.8M (not accounting for salary amounts > $100k).

Because the 50 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.

Reported PPP Proceed Usage:

On the PPP application, Desert Cab Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,155,725
  • Rent: $359,288
  • Debt Interest: $359,288
Because the loan received by Desert Cab Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Desert Cab Inc in Las Vegas, NV

Desert Cab Inc
4675 Wynn Rd
Las Vegas, NV 89103

Business Industry:
Taxi Service
NAICS code 485310

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Clark County, NV — SBA Office 0944 — Congressional District: NV-01

Similar Companies near Las Vegas

In the Las Vegas area, 677 businesses in the "Taxi Service" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 50) and received an average PPP loan of $17,042 (compared to this company's $2.87M).

Industry PPP Comparison Statistics

Nationwide, 251,000 businesses in the "Taxi Service" industry received a total of $2.94B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 1 employees, 98% lower than Desert Cab Inc's reported 50 employees, and received an average PPP loan of $11,717, 100% lower than this company's loan of $2.87M.

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.

Search FederalPay's Full PPP Loan Database

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.

3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/desert-cab-inc-las-vegas-nv