PPP Loan Data — Tornado Bus Company, Dallas, TX
Tornado Bus Company is a subchapter s corporation located at 8630 E. R L Thornton Fwy in Dallas, Texas that received a Coronavirus-related PPP loan from the SBA of $2,142,600.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 280 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Tornado Bus Company in Dallas, TX received a Paycheck Protection Loan of $2.14M through Prosperity Bank, which was approved in April, 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, Tornado Bus Company's 2019 payroll expenses are estimated to be at least $10.28M.
Based on their reported 280 jobs retained, this equals an estimated average yearly compensation of $36,730 per employee1
Reported PPP Proceed Usage:
On the PPP application, Tornado Bus Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,142,600
Business Information - Tornado Bus Company in Dallas, TX
8630 E. R L Thornton Fwy
Dallas, TX 75228
Charter Bus Industry
NAICS code 485510
Business Owner Demographics
Ethnicity: Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Dallas
In the Dallas area, 4 businesses in the "Charter Bus Industry" industry received a PPP loan. These local businesses reported an average of 199 employees (compared to this company's 280) and received an average PPP loan of $1,458,502 (compared to this company's $2.14M).
Similar Nearby Businesses Who Received PPP Funding:
Tornado Bus Co
El Expreso Group LLC
El Expresso Group, LLC
Industry PPP Comparison Statistics
Nationwide, 2,236 businesses in the "Charter Bus Industry" industry received a total of $362.97M 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 21 employees, 93% lower than Tornado Bus Company's reported 280 employees, and received an average PPP loan of $162,331, 92% lower than this company's loan of $2.14M.
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Footnotes & Information
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