PPP Loan Data — Tasco Auto Color Corporation, Houston, TX
Tasco Auto Color Corporation is a subchapter s corporation located at 10323 Veterans Memorial in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $3,097,122.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Texas Capital Bank
Tasco Auto Color Corporation in Houston, TX received a Paycheck Protection Loan of $3.1M through Texas Capital 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 July, 2021.
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, Tasco Auto Color Corporation's 2019 payroll expenses are estimated to be at least $14.87M.
Based on their reported 299 jobs retained, this equals an estimated average yearly compensation of $49,720 per employee1
Reported PPP Proceed Usage:
On the PPP application, Tasco Auto Color Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,322,841
- Utilities: $104,281
- Mortgage Interest: $290,000
- Rent: $380,000
Business Information - Tasco Auto Color Corporation in Houston, TX
10323 Veterans Memorial
Houston, TX 77038
Paint, Varnish, and Supplies Merchant Wholesalers
NAICS code 424950
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Houston
In the Houston area, 3 businesses in the "Paint, Varnish, and Supplies Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 102 employees (compared to this company's 299) and received an average PPP loan of $1,050,506 (compared to this company's $3.1M).
Similar Nearby Businesses Who Received PPP Funding:
Southwestern Paint Panels LLC
Brault Auto Paint & Supply #2 Inc
Industry PPP Comparison Statistics
Nationwide, 994 businesses in the "Paint, Varnish, and Supplies Merchant Wholesalers" industry received a total of $91.76M 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 10 employees, 97% lower than Tasco Auto Color Corporation's reported 299 employees, and received an average PPP loan of $92,316, 97% lower than this company's loan of $3.1M.
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Footnotes & Information
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