PPP Loan Data — Gary Lingo, Meno, OK
Gary Lingo is a sole proprietorship located at 49320 Highway 412 in Meno, Oklahoma that received a Coronavirus-related PPP loan from the SBA of $25,162.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Gary Lingo in Meno, OK received a Paycheck Protection Loan of $25,162 through NBC Oklahoma, which was approved in January, 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, Gary Lingo's 2019 payroll expenses are estimated to be at least $120,778.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,389 per employee1
Reported PPP Proceed Usage:
On the PPP application, Gary Lingo reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,158
- Utilities: $1
Business Information - Gary Lingo in Meno, OK
49320 Highway 412
Meno, OK 73760
NAICS code 111140
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Meno
In the Meno area, 19 businesses in the "Wheat Farming" industry received a PPP loan. These local businesses reported an average of 1 employees (compared to this company's 2) and received an average PPP loan of $14,466 (compared to this company's $25,162).
Similar Nearby Businesses Who Received PPP Funding:
Clifford Biby Farms
Industry PPP Comparison Statistics
Nationwide, 12,730 businesses in the "Wheat Farming" industry received a total of $250.14M 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 2 employees, the same amount reported by Gary Lingo and received an average PPP loan of $19,650, 22% lower than this company's loan of $25,162.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!