PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Cardio - Care Inc, Chicago, IL

ALERT: There are 2 PPP loans for a total of $342,654 in our database for businesses with the name "Cardio - Care Inc" in Chicago, IL. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Cardio - Care Inc
IL

Cardio - Care Inc

Entity: Subchapter S Corporation

Industry: Home Health Care Services

Location: Chicago, IL

Search All PPP Data

Cardio - Care Inc is a subchapter s corporation located at 5917 N Lincoln Ave in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $171,327.00 in March, 2021.

$ PPP Loan Information
Loan #3370178606

Loan Size:

$171,327

Jobs Retained:

28

Loan Approved:

2021-03-16

Loan Status:

Ongoing Loan

Lender:

JPMorgan Chase Bank, National Association

Cardio - Care Inc in Chicago, IL received a Paycheck Protection Loan of $171,327 through JPMorgan Chase Bank, National Association, which was approved in March, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Cardio - Care Inc's 2019 payroll expenses are estimated to be at least $822,370.

Based on their reported 28 jobs retained, this equals an estimated average yearly compensation of $29,370 per employee1

Reported PPP Proceed Usage:

On the PPP application, Cardio - Care Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $171,327

Business Information - Cardio - Care Inc in Chicago, IL

Cardio - Care Inc
5917 N Lincoln Ave
Chicago, IL 60659

Business Industry:
Home Health Care Services
NAICS code 621610

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Cook County, IL — SBA Office 0507 — Congressional District: IL-05

Similar Companies near Chicago

In the Chicago area, 30 businesses in the "Home Health Care Services" industry received a PPP loan. These local businesses reported an average of 27 employees (compared to this company's 28) and received an average PPP loan of $157,258 (compared to this company's $171,327).

Industry PPP Comparison Statistics

Nationwide, 87,627 businesses in the "Home Health Care Services" industry received a total of $7.58B 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 16 employees, 43% lower than Cardio - Care Inc's reported 28 employees, and received an average PPP loan of $86,486, 50% lower than this company's loan of $171,327.

SBA PPP loan data, payroll data, and salaries for Cardio - Care, Inc
IL

Cardio - Care, Inc

Entity: Subchapter S Corporation

Industry: Home Health Care Services

Location: Chicago, IL

Search All PPP Data

Cardio - Care, Inc is a subchapter s corporation located at 5917 N Lincoln Ave in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $171,327.00 in May, 2020.

$ PPP Loan Information
Loan #1606567705

Loan Size:

$171,327

Jobs Retained:

20

Loan Approved:

2020-05-01

Loan Status:

Ongoing Loan

Lender:

JPMorgan Chase Bank, National Association

Cardio - Care, Inc in Chicago, IL received a Paycheck Protection Loan of $171,327 through JPMorgan Chase Bank, National Association, which was approved in May, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Cardio - Care, Inc's 2019 payroll expenses are estimated to be at least $822,370.

Based on their reported 20 jobs retained, this equals an estimated average yearly compensation of $41,119 per employee1

Reported PPP Proceed Usage:

On the PPP application, Cardio - Care, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $171,327

Business Information - Cardio - Care, Inc in Chicago, IL

Cardio - Care, Inc
5917 N Lincoln Ave
Chicago, IL 60659

Business Industry:
Home Health Care Services
NAICS code 621610

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Cook County, IL — SBA Office 0507 — Congressional District: IL-05

Similar Companies near Chicago

In the Chicago area, 30 businesses in the "Home Health Care Services" industry received a PPP loan. These local businesses reported an average of 27 employees (compared to this company's 20) and received an average PPP loan of $157,258 (compared to this company's $171,327).

Industry PPP Comparison Statistics

Nationwide, 87,627 businesses in the "Home Health Care Services" industry received a total of $7.58B 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 16 employees, 20% lower than Cardio - Care, Inc's reported 20 employees, and received an average PPP loan of $86,486, 50% lower than this company's loan of $171,327.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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/cardio-care-inc-chicago-il