PPP Loan Data — Necco LLC, Cincinnati, OH
Necco LLC is a limited liability company (LLC) located at 1404 Race St in Cincinnati, Ohio that received a Coronavirus-related PPP loan from the SBA of $3,309,700.00 in April, 2020.
$ PPP Loan Information
Lender:FIRST FINANCIAL BANK
Necco LLC in Cincinnati, OH received a Paycheck Protection Loan of $3.31M through FIRST FINANCIAL BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Necco LLC's total 2019 payroll expenses were approximately $15.89M in order to qualify for the PPP loan amount received.
Based on their reported 405 jobs retained, this equals an estimated average yearly compensation of $39,226 per employee1.
Business Information - Necco LLC in Cincinnati, OH
1404 Race St
Cincinnati, OH 45202
Offices of Physicians, Mental Health Specialists (NAICS code 621112)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: OH-01
Similar Companies near Cincinnati
In the Cincinnati area, 4 businesses in the "Offices of Physicians, Mental Health Specialists" industry received a PPP loan. These local businesses reported an average of 123 employees (compared to this company's 405) and received an average PPP loan of $1,049,225 (compared to this company's $3.31M).
Similar Nearby Businesses Who Received PPP Funding:
Bianca Chin MD LLC
Christian Community Health Services
Industry PPP Comparison Statistics
Nationwide, 13,272 businesses in the "Offices of Physicians, Mental Health Specialists" industry received a total of $1,260,960,972.00 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 8 employees, 98% lower than Necco LLC's reported 405 employees, and received an average PPP loan of $95,009, 97% lower than this company's loan of $3.31M.
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, 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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