PPP Loan Data — Nassau Regional Off-Track Betting Corporation, Mineola, NY
Nassau Regional Off-Track Betting Corporation is a non-profit organization located at 139 Liberty Avenue in Mineola, New York that received a Coronavirus-related PPP loan from the SBA of $2,240,365.00 in April, 2020.
The company has reported itself as a White female owned non-profit, and employed at least 143 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Dime Community Bank
Nassau Regional Off-Track Betting Corporation in Mineola, NY received a Paycheck Protection Loan of $2.24M through Dime Community Bank, 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, Nassau Regional Off-Track Betting Corporation's 2019 payroll expenses are estimated to be at least $10.75M.
Based on their reported 143 jobs retained, this equals an estimated average yearly compensation of $75,201 per employee1
Reported PPP Proceed Usage:
On the PPP application, Nassau Regional Off-Track Betting Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,240,365
Business Information - Nassau Regional Off-Track Betting Corporation in Mineola, NY
139 Liberty Avenue
Mineola, NY 11501
Other Gambling Industries
NAICS code 713290
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
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, 90% lower than Nassau Regional Off-Track Betting Corporation's reported 143 employees, and received an average PPP loan of $101,717, 95% lower than this company's loan of $2.24M.
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Footnotes & Information
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