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PPP Loan Data — Lancaster Bingo Company, Inc., Lancaster, OH

SBA PPP loan data, payroll data, and salaries for Lancaster Bingo Company, Inc.
OH

Lancaster Bingo Company, Inc.

Entity: Corporation

Industry: Other Miscellaneous Nondurable Goods Merchant Wholesalers

Location: Lancaster, OH

Search All PPP Data

Lancaster Bingo Company, Inc. is a corporation located at 200 Quarry Rd Se in Lancaster, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,666,100.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.67M

Jobs Retained:

172

Loan Approved:

2020-04-04

Lender:

FIRST COMMONWEALTH BANK

Lancaster Bingo Company, Inc. received a Paycheck Protection Loan of $2.67M through FIRST COMMONWEALTH BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Lancaster Bingo Company, Inc.'s total 2019 payroll expenses were approximately $12.8M in order to qualify for the PPP loan amount received.

Based on their reported 172 jobs retained, this equals an estimated average yearly compensation of $74,403 per employee1.

Because the loan received by Lancaster Bingo Company, Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Lancaster Bingo Company, Inc. in Lancaster, OH

Lancaster Bingo Company, Inc.
200 Quarry Rd Se
Lancaster, OH 43130

Business Industry

Other Miscellaneous Nondurable Goods Merchant Wholesalers (NAICS code 424990)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: OH-15

Similar Companies near Lancaster

In the Lancaster area, 2 businesses in the "Other Miscellaneous Nondurable Goods Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 89 employees (compared to this company's 172) and received an average PPP loan of $1,361,746 (compared to this company's $2.67M).

Similar Nearby Businesses Who Received PPP Funding:

Isabell Court Inc.
Lancaster, OH

$57,392 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 8,398 businesses in the "Other Miscellaneous Nondurable Goods Merchant Wholesalers" industry received a total of $907,670,921.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 10 employees, 94% lower than Lancaster Bingo Company, Inc.'s reported 172 employees, and received an average PPP loan of $108,082, 96% lower than this company's loan of $2.67M.

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.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/lancaster-bingo-company-inc-lancaster-oh