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PPP Loan Data — South Central Power Company,
Lancaster, OH
South Central Power Company
Entity: Cooperative
Industry: Electric Power Distribution
Location: Lancaster, OH
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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:
Jobs Retained:
250Loan Approved:
2020-06-18Lender:
COBANK ACBSouth 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.
Business Information - South Central Power Company in Lancaster, OH
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-15Industry 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.
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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