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PPP Loan Data — Bear Construction Company, Rolling Meadows, IL

SBA PPP loan data, payroll data, and salaries for Bear Construction Company
IL

Bear Construction Company

Entity: Corporation

Industry: Commercial and Institutional Building Construction

Location: Rolling Meadows, IL

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Bear Construction Company is a corporation located at 1501 N. Rohlwing Road in Rolling Meadows, Illinois that received a Coronavirus-related PPP loan from the SBA of $5,810,250.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$5.81M

Jobs Retained:

284

Loan Approved:

2020-04-08

Lender:

BMO HARRIS BANK NATIONAL ASSOCIATION

Bear Construction Company received a Paycheck Protection Loan of $5.81M through BMO HARRIS BANK NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Bear Construction Company's total 2019 payroll expenses were approximately $27.89M in order to qualify for the PPP loan amount received.

Based on their reported 284 jobs retained, this equals an estimated average yearly compensation of $98,201 per employee1.

Because the loan received by Bear Construction Company 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 - Bear Construction Company in Rolling Meadows, IL

Bear Construction Company
1501 N. Rohlwing Road
Rolling Meadows, IL 60008

Business Industry

Commercial and Institutional Building Construction (NAICS code 236220)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IL-08

Similar Companies near Rolling Meadows

In the Rolling Meadows area, 20 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 22 employees (compared to this company's 284) and received an average PPP loan of $427,102 (compared to this company's $5.81M).

Industry PPP Comparison Statistics

Nationwide, 39,925 businesses in the "Commercial and Institutional Building Construction" industry received a total of $8,114,153,480.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 13 employees, 95% lower than Bear Construction Company's reported 284 employees, and received an average PPP loan of $203,235, 97% lower than this company's loan of $5.81M.

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.

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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/bear-construction-company-rolling-meadows-il