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PPP Loan Data — Diamond Residential Mortgage Corp, Lake Forest, IL

SBA PPP loan data, payroll data, and salaries for Diamond Residential Mortgage Corp

Diamond Residential Mortgage Corp

Entity: Corporation

Industry: Real Estate Credit

Location: Lake Forest, IL

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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

Loan Size:


Jobs Retained:


Loan Approved:




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.

Because the loan received by Diamond Residential Mortgage Corp is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Diamond Residential Mortgage Corp in Lake Forest, IL

Diamond Residential Mortgage Corp
582 Oakwood Ave
Lake Forest, IL 60045

Business Industry

Real Estate Credit (NAICS code 522292)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional 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.

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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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** This Document Provided By - The Civil Employee's Resource **