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PPP Loan Data — Suffolk Regional Off Track Betting Corp., Hauppauge, NY

SBA PPP loan data, payroll data, and salaries for Suffolk Regional Off Track Betting Corp.
NY Nonprofit Organization

Suffolk Regional Off Track Betting Corp.

Entity: Non-profit Organization

Industry: Other Gambling Industries

Location: Hauppauge, NY

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Suffolk Regional Off Track Betting Corp. is a non-profit organization located at 425 Oser Avenue Ste 2 in Hauppauge, New York that received a Coronavirus-related PPP loan from the SBA of $3,978,827.00 in June, 2020.

$ PPP Loan Information

Loan Size:

$3.98M

Jobs Retained:

362

Loan Approved:

2020-06-24

Lender:

COMMUNITY FEDERAL SAVINGS BANK

Suffolk Regional Off Track Betting Corp. in Hauppauge, NY received a Paycheck Protection Loan of $3.98M through COMMUNITY FEDERAL SAVINGS BANK, which was approved in June, 2020.

Based on standard PPP eligibility rules, Suffolk Regional Off Track Betting Corp.'s total 2019 payroll expenses were approximately $19.1M in order to qualify for the PPP loan amount received.

Based on their reported 362 jobs retained, this equals an estimated average yearly compensation of $52,758 per employee1.

Because the loan received by Suffolk Regional Off Track Betting Corp. 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 - Suffolk Regional Off Track Betting Corp. in Hauppauge, NY

Suffolk Regional Off Track Betting Corp.
425 Oser Avenue Ste 2
Hauppauge, NY 11788

Business Industry

Other Gambling Industries (NAICS code 713290)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NY-01

Industry PPP Comparison Statistics

Nationwide, 866 businesses in the "Other Gambling Industries" industry received a total of $112,742,082.00 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 16 employees, 96% lower than Suffolk Regional Off Track Betting Corp.'s reported 362 employees, and received an average PPP loan of $130,187, 97% lower than this company's loan of $3.98M.

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/suffolk-regional-off-track-betting-corp-hauppauge-ny