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PPP Loan Data — 4 Bears Casino & Lodge, New Town, ND

SBA PPP loan data, payroll data, and salaries for 4 Bears Casino & Lodge
ND

4 Bears Casino & Lodge

Entity: Corporation

Industry: Casino Hotels

Location: New Town, ND

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4 Bears Casino & Lodge is a corporation located at 202 Frontage Rd in New Town, North Dakota that received a Coronavirus-related PPP loan from the SBA of $3,605,200.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.61M

Jobs Retained:

403

Loan Approved:

2020-04-27

Lender:

CORNERSTONE BANK

4 Bears Casino & Lodge in New Town, ND received a Paycheck Protection Loan of $3.61M through CORNERSTONE BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, 4 Bears Casino & Lodge's total 2019 payroll expenses were approximately $17.3M in order to qualify for the PPP loan amount received.

Based on their reported 403 jobs retained, this equals an estimated average yearly compensation of $42,940 per employee1.

Because the loan received by 4 Bears Casino & Lodge is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - 4 Bears Casino & Lodge in New Town, ND

4 Bears Casino & Lodge
202 Frontage Rd
New Town, ND 58763

Business Industry

Casino Hotels (NAICS code 721120)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: ND-

Industry PPP Comparison Statistics

Nationwide, 322 businesses in the "Casino Hotels" industry received a total of $284,070,183.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 90 employees, 78% lower than 4 Bears Casino & Lodge's reported 403 employees, and received an average PPP loan of $882,206, 76% lower than this company's loan of $3.61M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan. All information displayed on this page is publicly available information under PPP loan guidelines, and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/4-bears-casino-and-lodge-new-town-nd