PPP Loan Data — Gilligan Oil Company, LLC, Cincinnati, OH
Gilligan Oil Company, LLC is a corporation located at 3805 Edwards Rd in Cincinnati, Ohio that received a Coronavirus-related PPP loan from the SBA of $5,303,200.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 250 people during the applicable loan loan period.
$ PPP Loan Information
Lender:FIFTH THIRD BANK
Gilligan Oil Company, LLC in Cincinnati, OH received a Paycheck Protection Loan of $5.3M through FIFTH THIRD BANK, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 250 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 255.
Based on standard PPP eligibility rules, Gilligan Oil Company, LLC's total 2019 payroll expenses were approximately $25.46M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 250 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Gilligan Oil Company, LLC in Cincinnati, OH
3805 Edwards Rd
Cincinnati, OH 45209
Limited-Service Restaurants (NAICS code 722513)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: UnreportedCongressional District: OH-02
Similar Companies near Cincinnati
In the Cincinnati area, 7 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 57 employees (compared to this company's 250) and received an average PPP loan of $814,534 (compared to this company's $5.3M).
Similar Nearby Businesses Who Received PPP Funding:
Anne Mcmanus DBA Carls Deli
PS Harrison LLC
Oakley Sk LLC
SUB King Enterprises LLC
MA Krupa Inc
Industry PPP Comparison Statistics
Nationwide, 79,996 businesses in the "Limited-Service Restaurants" industry received a total of $9,671,819,152.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 23 employees, 91% lower than Gilligan Oil Company, LLC's reported 250 employees, and received an average PPP loan of $120,904, 98% lower than this company's loan of $5.3M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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