PPP Loan Data — Lien Games Racing LLC, Fargo, ND
Lien Games Racing LLC is a partnership located at 404 4th Ave N Ste 201 in Fargo, North Dakota that received a Coronavirus-related PPP loan from the SBA of $25,100.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Alerus Financial, National Association
Lien Games Racing LLC in Fargo, ND received a Paycheck Protection Loan of $25,100 through Alerus Financial, National Association, 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 December, 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, Lien Games Racing LLC's 2019 payroll expenses are estimated to be at least $120,480.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,096 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lien Games Racing LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $18,825
- Utilities: $3,138
- Rent: $3,137
Business Information - Lien Games Racing LLC in Fargo, ND
404 4th Ave N Ste 201
Fargo, ND 58107
Other Gambling Industries
NAICS code 713290
Business Owner Demographics
Gender: Male Owned
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, 200% higher than Lien Games Racing LLC's reported 5 employees, and received an average PPP loan of $101,717, 305% higher than this company's loan of $25,100.
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Footnotes & Information
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