PPP Loan Data — LNO, Inc, Evans, GA
LNO, Inc is a subchapter s corporation located at 607 Ponder Place Dr in Evans, Georgia that received a Coronavirus-related PPP loan from the SBA of $2,151,000.00 in April, 2020.
The company has reported itself as a male veteran owned business, and employed at least 200 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cadence Bank, National Association
LNO, Inc in Evans, GA received a Paycheck Protection Loan of $2.15M through Cadence Bank, National Association, 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, LNO, Inc's 2019 payroll expenses are estimated to be at least $10.32M.
Based on their reported 200 jobs retained, this equals an estimated average yearly compensation of $51,624 per employee1
Reported PPP Proceed Usage:
On the PPP application, LNO, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,151,000
Business Information - LNO, Inc in Evans, GA
607 Ponder Place Dr
Evans, GA 30809
Employment Placement Agencies
NAICS code 561311
Business Owner Demographics
Gender: Male Owned
Veteran Status: Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Evans
In the Evans area, 2 businesses in the "Employment Placement Agencies" industry received a PPP loan. These local businesses reported an average of 101 employees (compared to this company's 200) and received an average PPP loan of $1,085,917 (compared to this company's $2.15M).
Similar Nearby Businesses Who Received PPP Funding:
Management Services Recruiting, LLC
Industry PPP Comparison Statistics
Nationwide, 12,601 businesses in the "Employment Placement Agencies" industry received a total of $3.48B 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 35 employees, 83% lower than LNO, Inc's reported 200 employees, and received an average PPP loan of $275,915, 87% lower than this company's loan of $2.15M.
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Footnotes & Information
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