PPP Loan Data — Central Baptist Home For The Aged, Norridge, IL
Central Baptist Home For The Aged is a non-profit organization located at 4747 N. Canfield Ave in Norridge, Illinois that received a Coronavirus-related PPP loan from the SBA of $1,992,700.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:BMO Harris Bank National Association
Central Baptist Home For The Aged in Norridge, IL received a Paycheck Protection Loan of $1.99M through BMO Harris Bank National Association, 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, Central Baptist Home For The Aged's 2019 payroll expenses are estimated to be at least $9.56M.
Based on their reported 241 jobs retained, this equals an estimated average yearly compensation of $39,689 per employee1
Reported PPP Proceed Usage:
On the PPP application, Central Baptist Home For The Aged reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,992,700
Business Information - Central Baptist Home For The Aged in Norridge, IL
4747 N. Canfield Ave
Norridge, IL 60706
Other Residential Care Facilities
NAICS code 623990
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Norridge
In the Norridge area, 2 businesses in the "Other Residential Care Facilities" industry received a PPP loan. These local businesses reported an average of 143 employees (compared to this company's 241) and received an average PPP loan of $1,053,350 (compared to this company's $1.99M).
Similar Nearby Businesses Who Received PPP Funding:
Best Care For You Inc
Industry PPP Comparison Statistics
Nationwide, 4,850 businesses in the "Other Residential Care Facilities" industry received a total of $891.17M 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 26 employees, 89% lower than Central Baptist Home For The Aged's reported 241 employees, and received an average PPP loan of $183,746, 91% lower than this company's loan of $1.99M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!