PPP Loan Data — Roling Tax, Inc, Davenport, IA
Roling Tax, Inc is a subchapter s corporation located at 1850 East 54th Street in Davenport, Iowa that received a Coronavirus-related PPP loan from the SBA of $25,500.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Central State Bank
Roling Tax, Inc in Davenport, IA received a Paycheck Protection Loan of $25,500 through First Central State 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 December, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Roling Tax, Inc's 2019 payroll expenses are estimated to be at least $122,400.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,400 per employee1
Reported PPP Proceed Usage:
On the PPP application, Roling Tax, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $21,000
- Utilities: $1,500
- Rent: $3,000
Business Information - Roling Tax, Inc in Davenport, IA
1850 East 54th Street
Davenport, IA 52807
Tax Preparation Services
NAICS code 541213
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Davenport
In the Davenport area, 9 businesses in the "Tax Preparation Services" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 6) and received an average PPP loan of $13,662 (compared to this company's $25,500).
Similar Nearby Businesses Who Received PPP Funding:
Qciq Tax & Accounting LLC
Chad D Greim & Company PC
MSP Tax & Accounting, LLC
MSP Tax & Accounting
Industry PPP Comparison Statistics
Nationwide, 50,853 businesses in the "Tax Preparation Services" industry received a total of $1.1B 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, 50% lower than Roling Tax, Inc's reported 6 employees, and received an average PPP loan of $21,684, 15% lower than this company's loan of $25,500.
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Footnotes & Information
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