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PPP Loan Data — Necco LLC, Cincinnati, OH

SBA PPP loan data, payroll data, and salaries for Necco LLC
OH

Necco LLC

Entity: Limited Liability Company (LLC)

Industry: Offices of Physicians, Mental Health Specialists

Location: Cincinnati, OH

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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

Loan Size:

$3.31M

Jobs Retained:

405

Loan Approved:

2020-04-09

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.

Because the loan received by Necco LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Necco LLC in Cincinnati, OH

Necco LLC
1404 Race St
Cincinnati, OH 45202

Business Industry

Offices of Physicians, Mental Health Specialists (NAICS code 621112)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional 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).

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.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/necco-llc-cincinnati-oh