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PPP Loan Data — Berkot, LTD, Joliet, IL

SBA PPP loan data, payroll data, and salaries for Berkot, LTD
IL

Berkot, LTD

Entity: Subchapter S Corporation

Industry: Supermarkets and Other Grocery (except Convenience) Stores

Location: Joliet, IL

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Berkot, LTD is a subchapter s corporation located at 1913 S. Briggs St in Joliet, Illinois that received a Coronavirus-related PPP loan from the SBA of $3,920,400.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.92M

Jobs Retained:

500

Loan Approved:

2020-04-14

Lender:

OLD SECOND NATIONAL BANK

Berkot, LTD received a Paycheck Protection Loan of $3.92M through OLD SECOND NATIONAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Berkot, LTD's total 2019 payroll expenses were approximately $18.82M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $37,636 per employee1.

Because the loan received by Berkot, LTD 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 - Berkot, LTD in Joliet, IL

Berkot, LTD
1913 S. Briggs St
Joliet, IL 60433

Business Industry

Supermarkets and Other Grocery (except Convenience) Stores (NAICS code 445110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IL-11

Similar Companies near Joliet

In the Joliet area, 4 businesses in the "Supermarkets and Other Grocery (except Convenience) Stores" industry received a PPP loan. These local businesses reported an average of 147 employees (compared to this company's 500) and received an average PPP loan of $1,093,945 (compared to this company's $3.92M).

Industry PPP Comparison Statistics

Nationwide, 18,654 businesses in the "Supermarkets and Other Grocery (except Convenience) Stores" industry received a total of $2,017,651,016.00 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, 96% lower than Berkot, LTD's reported 500 employees, and received an average PPP loan of $108,162, 97% lower than this company's loan of $3.92M.

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/berkot-ltd-joliet-il