PPP Loan Data — Lenco Diagnostic Laboratories, Inc, Brooklyn, NY
Lenco Diagnostic Laboratories, Inc is a corporation located at 1857 86th St 0 in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $2,271,900.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lenco Diagnostic Laboratories, Inc in Brooklyn, NY received a Paycheck Protection Loan of $2.27M through Citibank, N.A., which was approved in April, 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, Lenco Diagnostic Laboratories, Inc's 2019 payroll expenses are estimated to be at least $10.91M.
Based on their reported 234 jobs retained, this equals an estimated average yearly compensation of $46,603 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lenco Diagnostic Laboratories, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,271,900
Business Information - Lenco Diagnostic Laboratories, Inc in Brooklyn, NY
1857 86th St 0
Brooklyn, NY 11214
NAICS code 621511
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Brooklyn
In the Brooklyn area, 8 businesses in the "Medical Laboratories" industry received a PPP loan. These local businesses reported an average of 35 employees (compared to this company's 234) and received an average PPP loan of $308,261 (compared to this company's $2.27M).
Similar Nearby Businesses Who Received PPP Funding:
NY Medical Health Care Diagnostic PC
Vascular Diagnostic PC
Applied Diagnostic Inc
XXI Century Radiology And Cardiac Imaging PC
Industry PPP Comparison Statistics
Nationwide, 5,753 businesses in the "Medical Laboratories" industry received a total of $848.85M 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 14 employees, 94% lower than Lenco Diagnostic Laboratories, Inc's reported 234 employees, and received an average PPP loan of $147,548, 94% lower than this company's loan of $2.27M.
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Footnotes & Information
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