PPP Loan Data — Pearl Airport Taxi & Limo LLC, Freehold, NJ
Pearl Airport Taxi & Limo LLC is a limited liability company (LLC) located in Freehold, New Jersey that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
The company has reported itself as an Asian female owned business, and employed at least one person during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Pearl Airport Taxi & Limo LLC in Freehold, NJ received a Paycheck Protection Loan of $25,000 through Bank of America, National Association, which was approved in May, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Reported PPP Proceed Usage:
On the PPP application, Pearl Airport Taxi & Limo LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Pearl Airport Taxi & Limo LLC in Freehold, NJ
* Full address is redacted to protect the privacy of individuals.
NAICS code 485320
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Freehold
In the Freehold area, 11 businesses in the "Limousine Service" industry received a PPP loan. These local businesses reported an average of 46 employees (compared to this company's 1) and received an average PPP loan of $50,372 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Concorde Limousine Inc
Satya J Dham
Virgin Transit Corporation
Legends Luxury Transportation Inc
Industry PPP Comparison Statistics
Nationwide, 28,345 businesses in the "Limousine Service" industry received a total of $666.64M 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 3 employees, 200% higher than Pearl Airport Taxi & Limo LLC's reported 1 employees, and received an average PPP loan of $23,519, 6% lower than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
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.
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