PPP Loan Data — Cornerstone Services, Joliet, IL
Entity: Non-profit Organization
Location: Joliet, ILTweet This • Search All PPP Data
Cornerstone Services is a non-profit organization located at 777 Joyce Rd in Joliet, Illinois that received a Coronavirus-related PPP loan from the SBA of $4,073,565.00 in April, 2020.
The company has reported itself as a male owned non-profit, and employed at least 500 people during the applicable loan loan period.
$ PPP Loan Information
Lender:FIRST MIDWEST BANK
Cornerstone Services in Joliet, IL received a Paycheck Protection Loan of $4.07M through FIRST MIDWEST BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Cornerstone Services' total 2019 payroll expenses were approximately $19.55M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $39,106 per employee1.
Business Information - Cornerstone Services in Joliet, IL
777 Joyce Rd
Joliet, IL 60436
Residential Intellectual and Developmental Disability Facilities (NAICS code 623210)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: UnreportedCongressional District: IL-11
Similar Companies near Joliet
In the Joliet area, 2 businesses in the "Residential Intellectual and Developmental Disability Facilities" industry received a PPP loan. These local businesses reported an average of 289 employees (compared to this company's 500) and received an average PPP loan of $2,204,283 (compared to this company's $4.07M).
Similar Nearby Businesses Who Received PPP Funding:
United Cerebral Palsy-Center For Disability Services
Industry PPP Comparison Statistics
Nationwide, 1,775 businesses in the "Residential Intellectual and Developmental Disability Facilities" industry received a total of $836,841,517.00 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 61 employees, 88% lower than Cornerstone Services' reported 500 employees, and received an average PPP loan of $471,460, 88% lower than this company's loan of $4.07M.
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.
Have FederalPay.org's open data tools been valuable? Consider donating!