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PPP Loan Data — Chicago Painting Inc, Las Vegas, NV

SBA PPP loan data, payroll data, and salaries for Chicago Painting Inc
NV

Chicago Painting Inc

Entity: Subchapter S Corporation

Industry: Painting and Wall Covering Contractors

Location: Las Vegas, NV

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Chicago Painting Inc is a subchapter s corporation located at 4343 Polaris Ave in Las Vegas, Nevada that received a Coronavirus-related PPP loan from the SBA of $4,399,754.00 in May, 2020.

The company has reported itself as a male owned business, and employed at least 442 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$4.4M

Jobs Retained:

442

Loan Approved:

2020-05-03

Lender:

BANK OF AMERICA, NATIONAL ASSOCIATION

Chicago Painting Inc in Las Vegas, NV received a Paycheck Protection Loan of $4.4M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in May, 2020.

Based on standard PPP eligibility rules, Chicago Painting Inc's total 2019 payroll expenses were approximately $21.12M in order to qualify for the PPP loan amount received.

Based on their reported 442 jobs retained, this equals an estimated average yearly compensation of $47,780 per employee1.

Because the loan received by Chicago Painting 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 - Chicago Painting Inc in Las Vegas, NV

Chicago Painting Inc
4343 Polaris Ave
Las Vegas, NV 89103

Business Industry

Painting and Wall Covering Contractors (NAICS code 238320)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: NV-01

Similar Companies near Las Vegas

In the Las Vegas area, 4 businesses in the "Painting and Wall Covering Contractors" industry received a PPP loan. These local businesses reported an average of 116 employees (compared to this company's 442) and received an average PPP loan of $1,155,893 (compared to this company's $4.4M).

Industry PPP Comparison Statistics

Nationwide, 19,970 businesses in the "Painting and Wall Covering Contractors" industry received a total of $1,410,716,974.00 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 Chicago Painting Inc's reported 442 employees, and received an average PPP loan of $70,642, 98% lower than this company's loan of $4.4M.

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, and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

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/chicago-painting-inc-las-vegas-nv