PPP Loan Data — EZ Automotive & Towing Scv LLC, Austin, TX
EZ Automotive & Towing Scv LLC is a limited liability company (LLC) located at 1830 Oak Hill Ln in Austin, Texas that received a Coronavirus-related PPP loan from the SBA of $24,830.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
EZ Automotive & Towing Scv LLC in Austin, TX received a Paycheck Protection Loan of $24,830 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
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, EZ Automotive & Towing Scv LLC's 2019 payroll expenses are estimated to be at least $119,184.
Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $13,243 per employee1
Reported PPP Proceed Usage:
On the PPP application, EZ Automotive & Towing Scv LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,830
Business Information - EZ Automotive & Towing Scv LLC in Austin, TX
1830 Oak Hill Ln
Austin, TX 78744
Motor Vehicle Towing
NAICS code 488410
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Austin
In the Austin area, 11 businesses in the "Motor Vehicle Towing" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 9) and received an average PPP loan of $163,670 (compared to this company's $24,830).
Similar Nearby Businesses Who Received PPP Funding:
Zaben Towing Inc
Quintana's Towing LLC
ARQ Enterprises Inc
MIS Gallos LLC
Southside Wrecker, Inc
Industry PPP Comparison Statistics
Nationwide, 17,547 businesses in the "Motor Vehicle Towing" industry received a total of $912.17M 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, 33% lower than EZ Automotive & Towing Scv LLC's reported 9 employees, and received an average PPP loan of $51,984, 109% higher than this company's loan of $24,830.
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Footnotes & Information
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