PPP Loan Data — Chinese American Service League, Inc, Chicago, IL
Chinese American Service League, Inc is a non-profit organization located at 2141 South Tan Court in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,014,310.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:U.S. Bank, National Association
Chinese American Service League, Inc in Chicago, IL received a Paycheck Protection Loan of $2.01M through U.S. Bank, National Association, which was approved in April, 2020.
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, Chinese American Service League, Inc's 2019 payroll expenses are estimated to be at least $9.67M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $19,337 per employee1
Reported PPP Proceed Usage:
On the PPP application, Chinese American Service League, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,014,310
Business Information - Chinese American Service League, Inc in Chicago, IL
2141 South Tan Court
Chicago, IL 60616
Other Individual and Family Services
NAICS code 624190
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 37 businesses in the "Other Individual and Family Services" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 500) and received an average PPP loan of $115,006 (compared to this company's $2.01M).
Similar Nearby Businesses Who Received PPP Funding:
Passage Alternative Living Program Inc
Integro Rehab LLC
Hyde Park Neighborhood Club
Oliver Williams Sr
Industry PPP Comparison Statistics
Nationwide, 25,118 businesses in the "Other Individual and Family Services" industry received a total of $2.96B 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, 97% lower than Chinese American Service League, Inc's reported 500 employees, and received an average PPP loan of $117,860, 94% lower than this company's loan of $2.01M.
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Footnotes & Information
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