PPP Loan Data — GIE Media, Inc, Valley View, OH
GIE Media, Inc is a corporation located at 5811 Canal Rd in Valley View, Ohio that received a Coronavirus-related PPP loan from the SBA of $1,848,200.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 118 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Westfield Bank, FSB
GIE Media, Inc in Valley View, OH received a Paycheck Protection Loan of $1.85M through Westfield Bank, FSB, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in December, 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, GIE Media, Inc's 2019 payroll expenses are estimated to be at least $8.87M.
Based on their reported 118 jobs retained, this equals an estimated average yearly compensation of $75,181 per employee1
Reported PPP Proceed Usage:
On the PPP application, GIE Media, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,848,200
Business Information - GIE Media, Inc in Valley View, OH
5811 Canal Rd
Valley View, OH 44125
NAICS code 511120
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Valley View
In the Valley View area, 3 businesses in the "Periodical Publishers" industry received a PPP loan. These local businesses reported an average of 43 employees (compared to this company's 118) and received an average PPP loan of $654,933 (compared to this company's $1.85M).
Similar Nearby Businesses Who Received PPP Funding:
Designquest Media LLC
Pepper Pike, OH
Collier & Associates, Inc
Industry PPP Comparison Statistics
Nationwide, 3,897 businesses in the "Periodical Publishers" industry received a total of $496.81M 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 10 employees, 92% lower than GIE Media, Inc's reported 118 employees, and received an average PPP loan of $127,486, 93% lower than this company's loan of $1.85M.
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Footnotes & Information
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