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PPP Loan Data — The New Colusa Indian Bingo,
Colusa, CA
The New Colusa Indian Bingo
Entity: Corporation
Industry: Casinos (except Casino Hotels)
Location: Colusa, CA
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The New Colusa Indian Bingo is a corporation located at 3770 State Highway 45 in Colusa, California that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.
$
PPP Loan Information
Loan #9331348407
Loan Size:
Jobs Retained:
275Loan Approved:
2021-02-16Loan Status:
Paid in Full or ForgivenLender:
Plumas BankThe New Colusa Indian Bingo in Colusa, CA received a Paycheck Protection Loan of $2M through Plumas Bank, which was approved in February, 2021.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in October, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, The New Colusa Indian Bingo's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 275 jobs retained, this equals an estimated average yearly compensation of $34,909 per employee1
Reported PPP Proceed Usage:
On the PPP application, The New Colusa Indian Bingo reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,000,000
Business Information - The New Colusa Indian Bingo in Colusa, CA
3770 State Highway 45
Colusa, CA 95932
Business Industry:
Casinos (except Casino Hotels)
NAICS code 713210
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: Y
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 781 businesses in the "Casinos (except Casino Hotels)" industry received a total of $329.9M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 55 employees, 80% lower than The New Colusa Indian Bingo's reported 275 employees, and received an average PPP loan of $422,412, 79% lower than this company's loan of $2M.
The New Colusa Indian Bingo
Entity: Corporation
Industry: Casino Hotels
Location: Colusa, CA
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•
Search All PPP Data
The New Colusa Indian Bingo is a corporation located at 3770 State Highway 45 in Colusa, California that received a Coronavirus-related PPP loan from the SBA of $3,895,165.00 in April, 2020.
The company has reported itself as a female owned business, and employed at least 357 people during the applicable loan loan period.
$
PPP Loan Information
Loan #4531287310
Loan Size:
Jobs Retained:
357Loan Approved:
2020-04-29Loan Status:
Paid in Full or ForgivenLender:
Plumas BankThe New Colusa Indian Bingo in Colusa, CA received a Paycheck Protection Loan of $3.9M through Plumas Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in September, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, The New Colusa Indian Bingo's 2019 payroll expenses are estimated to be at least $18.7M.
Based on their reported 357 jobs retained, this equals an estimated average yearly compensation of $52,372 per employee1
Reported PPP Proceed Usage:
On the PPP application, The New Colusa Indian Bingo reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,921,374
- Utilities: $973,791
Business Information - The New Colusa Indian Bingo in Colusa, CA
3770 State Highway 45
Colusa, CA 95932
Business Industry:
Casino Hotels
NAICS code 721120
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Female Owned
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: Y
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 566 businesses in the "Casino Hotels" industry received a total of $435.2M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 92 employees, 74% lower than The New Colusa Indian Bingo's reported 357 employees, and received an average PPP loan of $768,903, 80% lower than this company's loan of $3.9M.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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