PPP Loan Data — Burrell Communications Group LLC, Chicago, IL
Burrell Communications Group LLC is a limited liability company (LLC) located at 233 N. Michigan Avenue, Suite 2900 in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,251,367.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The Northern Trust Company
Burrell Communications Group LLC in Chicago, IL received a Paycheck Protection Loan of $2.25M through The Northern Trust Company, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in June, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Burrell Communications Group LLC's 2019 payroll expenses are estimated to be at least $10.81M.
Based on their reported 130 jobs retained, this equals an estimated average yearly compensation of $83,127 per employee1
Reported PPP Proceed Usage:
On the PPP application, Burrell Communications Group LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,251,367
Business Information - Burrell Communications Group LLC in Chicago, IL
233 N. Michigan Avenue, Suite 2900
Chicago, IL 60601
NAICS code 541810
Business Owner Demographics
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 25 businesses in the "Advertising Agencies" industry received a PPP loan. These local businesses reported an average of 40 employees (compared to this company's 130) and received an average PPP loan of $526,649 (compared to this company's $2.25M).
Similar Nearby Businesses Who Received PPP Funding:
Tower Media Advertising Inc
Evolution Ventures LLC
Robert Viola Partners Inc
Condon Randis Inc
The Cramer-Krasselt Co
Healy Day Media Sales Inc
Industry PPP Comparison Statistics
Nationwide, 24,012 businesses in the "Advertising Agencies" industry received a total of $2.39B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 7 employees, 95% lower than Burrell Communications Group LLC's reported 130 employees, and received an average PPP loan of $99,714, 96% lower than this company's loan of $2.25M.
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Footnotes & Information
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