PPP Loan Data — David N Fornoff, Kilbourne, IL
David N Fornoff is a sole proprietorship located at Po Box 230 5798 Cr 1800 E in Kilbourne, Illinois that received a Coronavirus-related PPP loan from the SBA of $24,917.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Compeer Financial, ACA
David N Fornoff in Kilbourne, IL received a Paycheck Protection Loan of $24,917 through Compeer Financial, ACA, which was approved in May, 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 February, 2021.
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, David N Fornoff's 2019 payroll expenses are estimated to be at least $119,602.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $19,934 per employee1
Reported PPP Proceed Usage:
On the PPP application, David N Fornoff reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,917
Business Information - David N Fornoff in Kilbourne, IL
Po Box 230 5798 Cr 1800 E
Kilbourne, IL 62655
NAICS code 111150
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Kilbourne
In the Kilbourne area, 60 businesses in the "Corn Farming" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 6) and received an average PPP loan of $20,205 (compared to this company's $24,917).
Similar Nearby Businesses Who Received PPP Funding:
William L. Hilgendorf
Sharon L. Jones
Glenn L. Mckay
Industry PPP Comparison Statistics
Nationwide, 91,263 businesses in the "Corn Farming" industry received a total of $1.75B 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 2 employees, 67% lower than David N Fornoff's reported 6 employees, and received an average PPP loan of $19,196, 23% lower than this company's loan of $24,917.
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Footnotes & Information
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