PPP Loan Data — American Demolition Corporation, Elgin, IL
American Demolition Corporation is a corporation located at 305 Ramona Dr in Elgin, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,600,023.00 in April, 2020.
The company has reported itself as a female owned business, and employed at least 167 people during the applicable loan loan period.
$ PPP Loan Information
Lender:WEST SUBURBAN BANK
American Demolition Corporation in Elgin, IL received a Paycheck Protection Loan of $2.6M through WEST SUBURBAN BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, American Demolition Corporation's total 2019 payroll expenses were approximately $12.48M in order to qualify for the PPP loan amount received.
Based on their reported 167 jobs retained, this equals an estimated average yearly compensation of $74,731 per employee1.
Business Information - American Demolition Corporation in Elgin, IL
305 Ramona Dr
Elgin, IL 60120
Site Preparation Contractors (NAICS code 238910)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: FEMALE OWNED
Veteran Status: UnreportedCongressional District: IL-08
Similar Companies near Elgin
In the Elgin area, 3 businesses in the "Site Preparation Contractors" industry received a PPP loan. These local businesses reported an average of 65 employees (compared to this company's 167) and received an average PPP loan of $1,077,069 (compared to this company's $2.6M).
Similar Nearby Businesses Who Received PPP Funding:
Midwest Wrecking Co, Inc.
Omega III LLC
Industry PPP Comparison Statistics
Nationwide, 17,653 businesses in the "Site Preparation Contractors" industry received a total of $2,959,828,729.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 12 employees, 93% lower than American Demolition Corporation's reported 167 employees, and received an average PPP loan of $167,667, 94% lower than this company's loan of $2.6M.
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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