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PPP Loan Data — Karma Mobility Inc., Grapevine, TX

SBA PPP loan data, payroll data, and salaries for Karma Mobility Inc.
TX

Karma Mobility Inc.

Entity: Corporation

Industry: Telecommunications Resellers

Location: Grapevine, TX

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Karma Mobility Inc. is a corporation located at 2140 Hall Johnson Rd, Ste. 102-363 in Grapevine, Texas that received a Coronavirus-related PPP loan from the SBA of $35,574.00 in April, 2020.

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

$ PPP Loan Information

Loan Size:

$35,574

Jobs Retained:

3

Loan Approved:

2020-04-13

Lender:

SILICON VALLEY BANK

Karma Mobility Inc. received a Paycheck Protection Loan of $35,574 through SILICON VALLEY BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Karma Mobility Inc.'s total 2019 payroll expenses were approximately $170,755 in order to qualify for the PPP loan amount received.

Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $56,918 per employee1.

Business Information - Karma Mobility Inc. in Grapevine, TX

Karma Mobility Inc.
2140 Hall Johnson Rd, Ste. 102-363
Grapevine, TX 76051

Business Industry

Telecommunications Resellers (NAICS code 517911)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: TX-24

Similar Companies near Grapevine

In the Grapevine area, 3 businesses in the "Telecommunications Resellers" industry received a PPP loan. These local businesses reported an average of 169 employees (compared to this company's 3) and received an average PPP loan of $2,693,760 (compared to this company's $35,574).

Industry PPP Comparison Statistics

Nationwide, 1,596 businesses in the "Telecommunications Resellers" industry received a total of $356,494,761.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 16 employees, 433% higher than Karma Mobility Inc.'s reported 3 employees, and received an average PPP loan of $223,368, 528% higher than this company's loan of $35,574.

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.

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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/karma-mobility-inc-grapevine-tx