PPP Loan Data — Diamond Residential Mortgage Corp, Lake Forest, IL
Diamond Residential Mortgage Corp is a corporation located at 582 Oakwood Ave in Lake Forest, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,733,600.00 in April, 2020.
$ PPP Loan Information
Lender:MERCHANTS BANK OF INDIANA
Diamond Residential Mortgage Corp in Lake Forest, IL received a Paycheck Protection Loan of $2.73M through MERCHANTS BANK OF INDIANA, which was approved in April, 2020.
Based on standard PPP eligibility rules, Diamond Residential Mortgage Corp's total 2019 payroll expenses were approximately $13.12M in order to qualify for the PPP loan amount received.
Based on their reported 173 jobs retained, this equals an estimated average yearly compensation of $75,846 per employee1.
Business Information - Diamond Residential Mortgage Corp in Lake Forest, IL
582 Oakwood Ave
Lake Forest, IL 60045
Real Estate Credit (NAICS code 522292)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: IL-10
Industry PPP Comparison Statistics
Nationwide, 1,706 businesses in the "Real Estate Credit" industry received a total of $570,275,600.00 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 21 employees, 88% lower than Diamond Residential Mortgage Corp's reported 173 employees, and received an average PPP loan of $334,276, 88% lower than this company's loan of $2.73M.
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.
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