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PPP Loan Data — Allied Benefit Systems, Inc., Chicago, IL

SBA PPP loan data, payroll data, and salaries for Allied Benefit Systems, Inc.
IL

Allied Benefit Systems, Inc.

Entity: Subchapter S Corporation

Industry: Third Party Administration of Insurance and Pension Funds

Location: Chicago, IL

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Allied Benefit Systems, Inc. is a subchapter s corporation located at 200 W Adams St in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $4,993,600.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.99M

Jobs Retained:

371

Loan Approved:

2020-04-15

Lender:

CITIBANK, N.A.

Allied Benefit Systems, Inc. in Chicago, IL received a Paycheck Protection Loan of $4.99M through CITIBANK, N.A., which was approved in April, 2020.

Based on standard PPP eligibility rules, Allied Benefit Systems, Inc.'s total 2019 payroll expenses were approximately $23.97M in order to qualify for the PPP loan amount received.

Based on their reported 371 jobs retained, this equals an estimated average yearly compensation of $64,607 per employee1.

Because the loan received by Allied Benefit Systems, Inc. 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 - Allied Benefit Systems, Inc. in Chicago, IL

Allied Benefit Systems, Inc.
200 W Adams St
Chicago, IL 60606

Business Industry

Third Party Administration of Insurance and Pension Funds (NAICS code 524292)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IL-07

Industry PPP Comparison Statistics

Nationwide, 871 businesses in the "Third Party Administration of Insurance and Pension Funds" industry received a total of $249,450,055.00 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 19 employees, 95% lower than Allied Benefit Systems, Inc.'s reported 371 employees, and received an average PPP loan of $286,395, 94% lower than this company's loan of $4.99M.

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/allied-benefit-systems-inc-chicago-il