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PPP Loan Data — Frsco Corporation, Las Vegas, NV

SBA PPP loan data, payroll data, and salaries for Frsco Corporation
NV

Frsco Corporation

Entity: Subchapter S Corporation

Industry: Limited-Service Restaurants

Location: Las Vegas, NV

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Frsco Corporation is a subchapter s corporation located at 6960 S Cimarron Rd Suite 200 in Las Vegas, Nevada that received a Coronavirus-related PPP loan from the SBA of $2,645,818.00 in April, 2020.

The company has reported itself as a Black or african american male owned business, and employed at least 500 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$2.65M

Jobs Retained:

500

Loan Approved:

2020-04-09

Lender:

CBW BANK

Frsco Corporation received a Paycheck Protection Loan of $2.65M through CBW BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Frsco Corporation's total 2019 payroll expenses were approximately $12.7M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $25,400 per employee1.

Because the loan received by Frsco Corporation 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 - Frsco Corporation in Las Vegas, NV

Frsco Corporation
6960 S Cimarron Rd Suite 200
Las Vegas, NV 89113

Business Industry

Limited-Service Restaurants (NAICS code 722513)

Business Owner Demographics

Race / Ethnicity: BLACK OR AFRICAN AMERICAN

Gender: MALE OWNED

Veteran Status: VETERAN

Congressional District: NV-03

Similar Companies near Las Vegas

In the Las Vegas area, 10 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 62 employees (compared to this company's 500) and received an average PPP loan of $372,044 (compared to this company's $2.65M).

Industry PPP Comparison Statistics

Nationwide, 79,996 businesses in the "Limited-Service Restaurants" industry received a total of $9,671,819,152.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 23 employees, 95% lower than Frsco Corporation's reported 500 employees, and received an average PPP loan of $120,904, 95% lower than this company's loan of $2.65M.

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.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

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