PPP Loan Data — Lancaster Bingo Company, Inc., Lancaster, OH
Lancaster Bingo Company, Inc.
Location: Lancaster, OHTweet This • 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
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.
Business Information - Lancaster Bingo Company, Inc. in Lancaster, OH
200 Quarry Rd Se
Lancaster, OH 43130
Other Miscellaneous Nondurable Goods Merchant Wholesalers (NAICS code 424990)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional 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.
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.
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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