PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — South Central Power Company, Lancaster, OH

SBA PPP loan data, payroll data, and salaries for South Central Power Company
OH

South Central Power Company

Entity: Cooperative

Industry: Electric Power Distribution

Location: Lancaster, OH

Search All PPP Data

South Central Power Company is a cooperative located at 2780 Coonpath Rd Ne in Lancaster, Ohio that received a Coronavirus-related PPP loan from the SBA of $4,195,952.00 in June, 2020.

$ PPP Loan Information

Loan Size:

$4.2M

Jobs Retained:

250

Loan Approved:

2020-06-18

Lender:

COBANK ACB

South Central Power Company in Lancaster, OH received a Paycheck Protection Loan of $4.2M through COBANK ACB, which was approved in June, 2020.

Based on standard PPP eligibility rules, South Central Power Company's total 2019 payroll expenses were approximately $20.14M in order to qualify for the PPP loan amount received.

Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $80,562 per employee1.

Because the loan received by South Central Power Company 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 - South Central Power Company in Lancaster, OH

South Central Power Company
2780 Coonpath Rd Ne
Lancaster, OH 43130

Business Industry

Electric Power Distribution (NAICS code 221122)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: OH-15

Industry PPP Comparison Statistics

Nationwide, 823 businesses in the "Electric Power Distribution" industry received a total of $508,939,757.00 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 31 employees, 88% lower than South Central Power Company's reported 250 employees, and received an average PPP loan of $618,396, 85% lower than this company's loan of $4.2M.

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.

Search FederalPay's Full PPP Loan Database

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.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/south-central-power-company-lancaster-oh