PPP Loan Data — CMM Framing Inc, Chicago, IL
CMM Framing Inc is a subchapter s corporation located at 1532 W. Chicago Ave in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $46,700.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
CMM Framing Inc in Chicago, IL received a Paycheck Protection Loan of $46,700 through PNC 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
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, CMM Framing Inc's 2019 payroll expenses are estimated to be at least $224,160.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $32,023 per employee1
Reported PPP Proceed Usage:
On the PPP application, CMM Framing Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,700
Business Information - CMM Framing Inc in Chicago, IL
1532 W. Chicago Ave
Chicago, IL 60642
NAICS code 238130
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 4 businesses in the "Framing Contractors" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 7) and received an average PPP loan of $25,299 (compared to this company's $46,700).
Similar Nearby Businesses Who Received PPP Funding:
Will Products Inc
Brent Burris Carpentry LLC
Industry PPP Comparison Statistics
Nationwide, 9,856 businesses in the "Framing Contractors" industry received a total of $724.39M 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, the same amount reported by CMM Framing Inc and received an average PPP loan of $73,498, 57% higher than this company's loan of $46,700.
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