PPP Loan Data — Cotter Consulting, Inc, Chicago, IL
Cotter Consulting, Inc is a corporation located at 100 S Wacker Drive Suite 920 in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $1,536,665.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Wheaton Bank & Trust Company, National Association
Cotter Consulting, Inc in Chicago, IL received a Paycheck Protection Loan of $1.54M through Wheaton Bank & Trust Company, National Association, which was approved in April, 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, Cotter Consulting, Inc's 2019 payroll expenses are estimated to be at least $7.38M.
Based on their reported 88 jobs retained, this equals an estimated average yearly compensation of $83,818 per employee1
Reported PPP Proceed Usage:
On the PPP application, Cotter Consulting, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,152,499
- Utilities: $192,083
- Rent: $192,083
Business Information - Cotter Consulting, Inc in Chicago, IL
100 S Wacker Drive Suite 920
Chicago, IL 60606
Office Administrative Services
NAICS code 561110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 23 businesses in the "Office Administrative Services" industry received a PPP loan. These local businesses reported an average of 33 employees (compared to this company's 88) and received an average PPP loan of $257,073 (compared to this company's $1.54M).
Similar Nearby Businesses Who Received PPP Funding:
Paradigm Risk Management
Nautilus Property Management LTD
S&G Property Management Services LLC
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Campbell Street Asset Management Inc
Interfaith Management Services LLC
Industry PPP Comparison Statistics
Nationwide, 44,947 businesses in the "Office Administrative Services" industry received a total of $2.36B 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 6 employees, 93% lower than Cotter Consulting, Inc's reported 88 employees, and received an average PPP loan of $52,468, 97% lower than this company's loan of $1.54M.
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Footnotes & Information
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