PPP Loan Data — Connect Search, LLC, Chicago, IL
Connect Search, LLC is a limited liability company (LLC) located at 222 South Riverside Drive in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $3,313,400.00 in April, 2020.
$ PPP Loan Information
Lender:CIBC BANK USA
Connect Search, LLC in Chicago, IL received a Paycheck Protection Loan of $3.31M through CIBC BANK USA, which was approved in April, 2020.
Based on standard PPP eligibility rules, Connect Search, LLC's total 2019 payroll expenses were approximately $15.9M in order to qualify for the PPP loan amount received.
Based on their reported 270 jobs retained, this equals an estimated average yearly compensation of $58,905 per employee1.
Business Information - Connect Search, LLC in Chicago, IL
222 South Riverside Drive
Chicago, IL 60606
Employment Placement Agencies (NAICS code 561311)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: IL-07
Similar Companies near Chicago
In the Chicago area, 24 businesses in the "Employment Placement Agencies" industry received a PPP loan. These local businesses reported an average of 45 employees (compared to this company's 270) and received an average PPP loan of $660,523 (compared to this company's $3.31M).
Similar Nearby Businesses Who Received PPP Funding:
Ready Made Staffing, Inc.
Talent Hitch, Inc.
Softal Technologies, LLC
Allium Partners LLC
MMD Services, Inc.
Employment & Employer Services, Inc.
Thomas Berchou DBA None
Industry PPP Comparison Statistics
Nationwide, 7,294 businesses in the "Employment Placement Agencies" industry received a total of $2,648,453,106.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 38 employees, 86% lower than Connect Search, LLC's reported 270 employees, and received an average PPP loan of $363,100, 89% lower than this company's loan of $3.31M.
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.
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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