PPP Loan Data — King's Casino Management Corp, Citrus Heights, CA
King's Casino Management Corp is a subchapter s corporation located at 6510 Antelope Rd. in Citrus Heights, California that received a Coronavirus-related PPP loan from the SBA of $1,874,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
King's Casino Management Corp in Citrus Heights, CA received a Paycheck Protection Loan of $1.87M through Comerica Bank, 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 February, 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, King's Casino Management Corp's 2019 payroll expenses are estimated to be at least $9M.
Based on their reported 435 jobs retained, this equals an estimated average yearly compensation of $20,679 per employee1
Reported PPP Proceed Usage:
On the PPP application, King's Casino Management Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,874,000
Business Information - King's Casino Management Corp in Citrus Heights, CA
6510 Antelope Rd.
Citrus Heights, CA 95621
Other Gambling Industries
NAICS code 713290
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 1,767 businesses in the "Other Gambling Industries" industry received a total of $179.73M 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 15 employees, 97% lower than King's Casino Management Corp's reported 435 employees, and received an average PPP loan of $101,717, 95% lower than this company's loan of $1.87M.
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Footnotes & Information
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