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PPP Loan Data — Allied Gem Appraisers LTD,
Chicago, IL
Allied Gem Appraisers LTD
Entity: Corporation
Industry: All Other Professional, Scientific, and Technical Services
Location: Chicago, IL
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Allied Gem Appraisers LTD is a corporation located at 29 E Madison St Ste 1102 in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $4,687.00 in March, 2021.
$
PPP Loan Information
Loan #2049038609
Loan Size:
Jobs Retained:
1Loan Approved:
2021-03-13Loan Status:
Active Un-DisbursedLender:
U.S. Bank, National AssociationAllied Gem Appraisers LTD in Chicago, IL received a Paycheck Protection Loan of $4,687 through U.S. Bank, National Association, which was approved in March, 2021.
While this loan has been approved by the Small Business Administration, the lender has not reported to the SBA that the loan funds were disbursed to the borrower. According to SBA records, a total of $4,687 in approved PPP funding has not been disbursed. The loan's status was last updated by the SBA in March, 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, Allied Gem Appraisers LTD's 2019 payroll expenses are estimated to be at least $22,498.
Based on their reported 1 jobs retained, this equals an estimated average yearly compensation of $22,498 per employee1
Reported PPP Proceed Usage:
On the PPP application, Allied Gem Appraisers LTD reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,686
Business Information - Allied Gem Appraisers LTD in Chicago, IL
29 E Madison St Ste 1102
Chicago, IL 60602
Business Industry:
All Other Professional, Scientific, and Technical Services
NAICS code 541990
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: N
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 78 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a PPP loan. These local businesses reported an average of 15 employees (compared to this company's 1) and received an average PPP loan of $245,039 (compared to this company's $4,687).
Similar Nearby Businesses Who Received PPP Funding:
360 Energy Group, LLC
Chicago, IL
Health & Law Resource Inc
Chicago, IL
Mulholland Legal Recruiting Inc
Chicago, IL
REX Travel Organization, Inc
Chicago, IL
Harvard Oaks Enterprises Inc
Chicago, IL
Charles Alexander Wearn
Chicago, IL
Chicago Gem & Jewelry Evaluation Serv
Chicago, IL
Taxpayer Advocate Group LLC DBA Xpress Tax Appeals
Chicago, IL
Page 2 Communications LLC
Chicago, IL
Industry PPP Comparison Statistics
Nationwide, 110,498 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a total of $7B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 6 employees, 500% higher than Allied Gem Appraisers LTD's reported 1 employees, and received an average PPP loan of $63,335, 1251% higher than this company's loan of $4,687.
Allied Gem Appraisers LTD
Entity: Corporation
Industry: All Other Professional, Scientific, and Technical Services
Location: Chicago, IL
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•
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Allied Gem Appraisers LTD is a corporation located at 29 Madison St E in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $8,072.00 in May, 2020.
$
PPP Loan Information
Loan #8211907708
Loan Size:
Jobs Retained:
1Loan Approved:
2020-05-01Loan Status:
Ongoing LoanLender:
U.S. Bank, National AssociationAllied Gem Appraisers LTD in Chicago, IL received a Paycheck Protection Loan of $8,072 through U.S. Bank, National Association, which was approved in May, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Allied Gem Appraisers LTD's 2019 payroll expenses are estimated to be at least $38,746.
Based on their reported 1 jobs retained, this equals an estimated average yearly compensation of $38,746 per employee1
Reported PPP Proceed Usage:
On the PPP application, Allied Gem Appraisers LTD reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $8,072
Business Information - Allied Gem Appraisers LTD in Chicago, IL
29 Madison St E
Chicago, IL 60602
Business Industry:
All Other Professional, Scientific, and Technical Services
NAICS code 541990
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: N
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 78 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a PPP loan. These local businesses reported an average of 15 employees (compared to this company's 1) and received an average PPP loan of $245,039 (compared to this company's $8,072).
Similar Nearby Businesses Who Received PPP Funding:
360 Energy Group, LLC
Chicago, IL
Health & Law Resource Inc
Chicago, IL
Mulholland Legal Recruiting Inc
Chicago, IL
REX Travel Organization, Inc
Chicago, IL
Harvard Oaks Enterprises Inc
Chicago, IL
Charles Alexander Wearn
Chicago, IL
Chicago Gem & Jewelry Evaluation Serv
Chicago, IL
Taxpayer Advocate Group LLC DBA Xpress Tax Appeals
Chicago, IL
Page 2 Communications LLC
Chicago, IL
Industry PPP Comparison Statistics
Nationwide, 110,498 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a total of $7B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 6 employees, 500% higher than Allied Gem Appraisers LTD's reported 1 employees, and received an average PPP loan of $63,335, 685% higher than this company's loan of $8,072.
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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