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PPP Loan Data — American Demolition Corporation, Elgin, IL

SBA PPP loan data, payroll data, and salaries for American Demolition Corporation
IL

American Demolition Corporation

Entity: Corporation

Industry: Site Preparation Contractors

Location: Elgin, IL

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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

Loan Size:

$2.6M

Jobs Retained:

167

Loan Approved:

2020-04-14

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.

Because the loan received by American Demolition Corporation 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 - American Demolition Corporation in Elgin, IL

American Demolition Corporation
305 Ramona Dr
Elgin, IL 60120

Business Industry

Site Preparation Contractors (NAICS code 238910)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: FEMALE OWNED

Veteran Status: Unreported

Congressional 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).

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.

Search FederalPay's Full PPP Loan Database

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/american-demolition-corporation-elgin-il