PPP Loan Data — Cuyahoga Vending Co. Inc, Maple Heights, OH
Cuyahoga Vending Co. Inc is a corporation located at 14250 Industrial Ave S Suite 104 in Maple Heights, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,631,600.00 in April, 2020. This business is a Canteen Vending Services franchise.
The company has reported itself as a White male veteran owned business, and employed at least 250 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:The Huntington National Bank
Cuyahoga Vending Co. Inc in Maple Heights, OH received a Paycheck Protection Loan of $2.63M through The Huntington National Bank, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Cuyahoga Vending Co. Inc's 2019 payroll expenses are estimated to be at least $12.63M.
Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $50,527 per employee1
Reported PPP Proceed Usage:
On the PPP application, Cuyahoga Vending Co. Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,631,600
Business Information - Cuyahoga Vending Co. Inc in Maple Heights, OH
14250 Industrial Ave S Suite 104
Maple Heights, OH 44137
Vending Machine Operators
NAICS code 454210
Business Owner Demographics
Gender: Male Owned
Veteran Status: Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Maple Heights
In the Maple Heights area, 2 businesses in the "Vending Machine Operators" industry received a PPP loan. These local businesses reported an average of 126 employees (compared to this company's 250) and received an average PPP loan of $1,326,216 (compared to this company's $2.63M).
Similar Nearby Businesses Who Received PPP Funding:
Maple Heights, OH
Industry PPP Comparison Statistics
Nationwide, 5,683 businesses in the "Vending Machine Operators" industry received a total of $306.05M 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 6 employees, 98% lower than Cuyahoga Vending Co. Inc's reported 250 employees, and received an average PPP loan of $53,853, 98% lower than this company's loan of $2.63M.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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