PPP Loan Data — Color Communications, LLC, Chicago, IL
Color Communications, LLC is a limited liability company (LLC) located at 4000 W. Fillmore in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,709,804.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Bank of the Lake
Color Communications, LLC in Chicago, IL received a Paycheck Protection Loan of $2.71M through First Bank of the Lake, 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, Color Communications, LLC's 2019 payroll expenses are estimated to be at least $13.01M.
Based on their reported 262 jobs retained, this equals an estimated average yearly compensation of $49,645 per employee1
Reported PPP Proceed Usage:
On the PPP application, Color Communications, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,709,804
Business Information - Color Communications, LLC in Chicago, IL
4000 W. Fillmore
Chicago, IL 60624
All Other Miscellaneous Manufacturing
NAICS code 339999
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, 24 businesses in the "All Other Miscellaneous Manufacturing" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 262) and received an average PPP loan of $133,188 (compared to this company's $2.71M).
Similar Nearby Businesses Who Received PPP Funding:
Big City Sets, Inc
Industry PPP Comparison Statistics
Nationwide, 17,359 businesses in the "All Other Miscellaneous Manufacturing" industry received a total of $2.06B 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 12 employees, 95% lower than Color Communications, LLC's reported 262 employees, and received an average PPP loan of $118,586, 96% lower than this company's loan of $2.71M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!