PPP Loan Data — Dearwester Grain Services, Inc, Golden, IL
Dearwester Grain Services, Inc is a corporation located at 709 Prairie Mills Rd in Golden, Illinois that received a Coronavirus-related PPP loan from the SBA of $736,500.00 in April, 2020.
The company has reported itself as a White female owned business, and employed at least 70 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:United Community Bank
Dearwester Grain Services, Inc in Golden, IL received a Paycheck Protection Loan of $736,500 through United Community Bank, which was approved in April, 2020.
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, Dearwester Grain Services, Inc's 2019 payroll expenses are estimated to be at least $3.54M.
Based on their reported 70 jobs retained, this equals an estimated average yearly compensation of $50,503 per employee1
Reported PPP Proceed Usage:
On the PPP application, Dearwester Grain Services, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $736,500
Business Information - Dearwester Grain Services, Inc in Golden, IL
709 Prairie Mills Rd
Golden, IL 62339
All Other Grain Farming
NAICS code 111199
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Golden
In the Golden area, 10 businesses in the "All Other Grain Farming" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 70) and received an average PPP loan of $87,366 (compared to this company's $736,500).
Similar Nearby Businesses Who Received PPP Funding:
Miller Family Farms
Leslie A Post
James C. Genenbacher
Gary W Niekamp
Industry PPP Comparison Statistics
Nationwide, 39,476 businesses in the "All Other Grain Farming" industry received a total of $778.27M 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, 97% lower than Dearwester Grain Services, Inc's reported 70 employees, and received an average PPP loan of $19,715, 97% lower than this company's loan of $736,500.
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Footnotes & Information
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