Taxi and Limousine Service

Businesses and organizations in the Taxi and Limousine Service industry (NAICS code 4853, part of the Transportation and Warehousing sector) received 278,053 PPP loans totaling $3.58B during the COVID-19 pandemic.

The average loan for this industry was $12,893 — below the national PPP average of approximately $67,000. This reflects the small business character of most participants in this industry, typically sole proprietors and micro-businesses with modest payroll obligations.

87.4% of loans in this industry were forgiven — totaling $3.12B. To qualify for forgiveness, borrowers had to demonstrate that they maintained headcount and compensation levels and used at least 60% of loan proceeds for payroll expenses.

Notable recipients in this industry include CAREY INTERNATIONAL, INC. of FREDERICK, MD ($8,718,553); EMPIRE INTERNATIONAL LTD. of SECAUCUS, NJ ($5,593,200); and AVALON TRANSPORTATION, LLC of CULVER CITY, CA ($4,159,900).

The loan amount distribution for this industry shows a more even spread across loan sizes, suggesting a mix of small and mid-sized businesses. Because borrower names are withheld for loans under $150,000, a substantial portion of recipients in this industry may not appear by name in this dataset.

As part of the broader Transportation and Warehousing sector — air, rail, water, truck, transit, pipeline, and scenic transportation services. — businesses in NAICS 4853 were particularly reliant on PPP assistance to bridge the gap between declining revenues and fixed overhead obligations during the shutdown period.