PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Culturefit Technical Staffing Inc, Deerfield, IL

ALERT: There are 2 PPP loans for a total of $882,770 in our database for businesses with the name "Culturefit Technical Staffing Inc" in Deerfield, IL. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Culturefit Technical Staffing Inc
IL

Culturefit Technical Staffing Inc

Entity: Corporation

Industry: Executive Search Services

Location: Deerfield, IL

Search All PPP Data

Culturefit Technical Staffing Inc is a corporation located at 540 Lake Cook Rd Ste 140 in Deerfield, Illinois that received a Coronavirus-related PPP loan from the SBA of $441,385.00 in January, 2021.

$ PPP Loan Information
Loan #7179178301

Loan Size:

$441,385

Jobs Retained:

25

Loan Approved:

2021-01-28

Loan Status:

Paid in Full or Forgiven

Lender:

Bank of America, National Association

Culturefit Technical Staffing Inc in Deerfield, IL received a Paycheck Protection Loan of $441,385 through Bank of America, National Association, which was approved in January, 2021.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in September, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Culturefit Technical Staffing Inc's 2019 payroll expenses are estimated to be at least $2.12M.

Based on their reported 25 jobs retained, this equals an estimated average yearly compensation of $84,746 per employee1

Reported PPP Proceed Usage:

On the PPP application, Culturefit Technical Staffing Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $441,385

Business Information - Culturefit Technical Staffing Inc in Deerfield, IL

Culturefit Technical Staffing Inc
540 Lake Cook Rd Ste 140
Deerfield, IL 60015

Business Industry:
Executive Search Services
NAICS code 561312

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Lake County, IL — SBA Office 0507 — Congressional District: IL-10

Businesses Using Same Address:

There is one other business that received a PPP loan registered to the same address as Culturefit Technical Staffing Inc.

Advance Search Technical Staffing LLC
Executive Search Services

$27,967 PPP Loan

Similar Companies near Deerfield

In the Deerfield area, 5 businesses in the "Executive Search Services" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 25) and received an average PPP loan of $117,109 (compared to this company's $441,385).

Industry PPP Comparison Statistics

Nationwide, 7,000 businesses in the "Executive Search Services" industry received a total of $767.11M 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 10 employees, 60% lower than Culturefit Technical Staffing Inc's reported 25 employees, and received an average PPP loan of $109,588, 75% lower than this company's loan of $441,385.

SBA PPP loan data, payroll data, and salaries for Culturefit Technical Staffing Inc
IL

Culturefit Technical Staffing Inc

Entity: Corporation

Industry: Employment Placement Agencies

Location: Deerfield, IL

Search All PPP Data

Culturefit Technical Staffing Inc is a corporation located at 540 Lake Cook Rd Ste 140 in Deerfield, Illinois that received a Coronavirus-related PPP loan from the SBA of $441,385.00 in April, 2020.

$ PPP Loan Information
Loan #1092397301

Loan Size:

$441,385

Jobs Retained:

35

Loan Approved:

2020-04-28

Loan Status:

Paid in Full or Forgiven

Lender:

Bank of America, National Association

Culturefit Technical Staffing Inc in Deerfield, IL received a Paycheck Protection Loan of $441,385 through Bank of America, National Association, which was approved in April, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in March, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Culturefit Technical Staffing Inc's 2019 payroll expenses are estimated to be at least $2.12M.

Based on their reported 35 jobs retained, this equals an estimated average yearly compensation of $60,533 per employee1

Reported PPP Proceed Usage:

On the PPP application, Culturefit Technical Staffing Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $441,385

Business Information - Culturefit Technical Staffing Inc in Deerfield, IL

Culturefit Technical Staffing Inc
540 Lake Cook Rd Ste 140
Deerfield, IL 60015

Business Industry:
Employment Placement Agencies
NAICS code 561311

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Lake County, IL — SBA Office 0507 — Congressional District: IL-10

Businesses Using Same Address:

There is one other business that received a PPP loan registered to the same address as Culturefit Technical Staffing Inc.

Advance Search Technical Staffing LLC
Executive Search Services

$27,967 PPP Loan

Similar Companies near Deerfield

In the Deerfield area, 17 businesses in the "Employment Placement Agencies" industry received a PPP loan. These local businesses reported an average of 67 employees (compared to this company's 35) and received an average PPP loan of $1,670,449 (compared to this company's $441,385).

Industry PPP Comparison Statistics

Nationwide, 12,513 businesses in the "Employment Placement Agencies" industry received a total of $3.47B 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 35 employees, the same amount reported by Culturefit Technical Staffing Inc and received an average PPP loan of $277,537, 37% lower than this company's loan of $441,385.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/culturefit-technical-staffing-inc-deerfield-il