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PPP Loan Data — Bodyshopbids, Inc., Chicago, IL

SBA PPP loan data, payroll data, and salaries for Bodyshopbids, Inc.
IL

Bodyshopbids, Inc.

Entity: Corporation

Industry: Claims Adjusting

Location: Chicago, IL

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Bodyshopbids, Inc. is a corporation located at 1 N Dearborn St in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $7,083,500.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$7.08M

Jobs Retained:

448

Loan Approved:

2020-04-10

Lender:

KEYBANK NATIONAL ASSOCIATION

Bodyshopbids, Inc. received a Paycheck Protection Loan of $7.08M through KEYBANK NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Bodyshopbids, Inc.'s total 2019 payroll expenses were approximately $34M in order to qualify for the PPP loan amount received.

Based on their reported 448 jobs retained, this equals an estimated average yearly compensation of $75,895 per employee1.

Because the loan received by Bodyshopbids, Inc. 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 - Bodyshopbids, Inc. in Chicago, IL

Bodyshopbids, Inc.
1 N Dearborn St
Chicago, IL 60602

Business Industry

Claims Adjusting (NAICS code 524291)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IL-07

Industry PPP Comparison Statistics

Nationwide, 2,142 businesses in the "Claims Adjusting" industry received a total of $175,204,944.00 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 6 employees, 99% lower than Bodyshopbids, Inc.'s reported 448 employees, and received an average PPP loan of $81,795, 99% lower than this company's loan of $7.08M.

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/bodyshopbids-inc-chicago-il