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

PPP Loan Data — Early Resources Inc, Burr Ridge, IL

ALERT: There are 2 PPP loans for a total of $53,809 in our database for businesses with the name "Early Resources Inc" in Burr Ridge, 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 Early Resources Inc

FRANCHISE

IL

Early Resources Inc

Entity: Corporation

Industry: All Other Miscellaneous Schools and Instruction

Franchise: Kumon

Location: Burr Ridge, IL

Search All PPP Data

Early Resources Inc is a corporation located at 84 Burr Ridge Pkwy in Burr Ridge, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,042.00 in January, 2021. This business is a Kumon franchise.

$ PPP Loan Information
Loan #9458038307

Loan Size:

$25,042

Jobs Retained:

17

Loan Approved:

2021-01-30

Loan Status:

Ongoing Loan

Lender:

Celtic Bank Corporation

Early Resources Inc in Burr Ridge, IL received a Paycheck Protection Loan of $25,042 through Celtic Bank Corporation, which was approved in January, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

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, Early Resources Inc's 2019 payroll expenses are estimated to be at least $120,202.

Based on their reported 17 jobs retained, this equals an estimated average yearly compensation of $7,071 per employee1

Reported PPP Proceed Usage:

On the PPP application, Early Resources Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $25,040
  • Utilities: $1

Business Information - Early Resources Inc in Burr Ridge, IL

Early Resources Inc
84 Burr Ridge Pkwy
Burr Ridge, IL 60527

Business Industry:
All Other Miscellaneous Schools and Instruction
NAICS code 611699

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

Cook County, IL — SBA Office 0507 — Congressional District: IL-11

Similar Companies near Burr Ridge

In the Burr Ridge area, 11 businesses in the "All Other Miscellaneous Schools and Instruction" industry received a PPP loan. These local businesses reported an average of 15 employees (compared to this company's 17) and received an average PPP loan of $32,485 (compared to this company's $25,042).

Industry PPP Comparison Statistics

Nationwide, 28,242 businesses in the "All Other Miscellaneous Schools and Instruction" industry received a total of $1.52B 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 9 employees, 47% lower than Early Resources Inc's reported 17 employees, and received an average PPP loan of $53,678, 114% higher than this company's loan of $25,042.

SBA PPP loan data, payroll data, and salaries for Early Resources Inc

FRANCHISE

IL

Early Resources Inc

Entity: Corporation

Industry: All Other Miscellaneous Schools and Instruction

Franchise: Kumon

Location: Burr Ridge, IL

Search All PPP Data

Early Resources Inc is a corporation located at 84 Burr Ridge Parkway in Burr Ridge, Illinois that received a Coronavirus-related PPP loan from the SBA of $28,767.00 in May, 2020. This business is a Kumon franchise.

$ PPP Loan Information
Loan #2868057405

Loan Size:

$28,767

Jobs Retained:

19

Loan Approved:

2020-05-06

Loan Status:

Paid in Full or Forgiven

Lender:

Celtic Bank Corporation

Early Resources Inc in Burr Ridge, IL received a Paycheck Protection Loan of $28,767 through Celtic Bank Corporation, 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 June, 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, Early Resources Inc's 2019 payroll expenses are estimated to be at least $138,082.

Based on their reported 19 jobs retained, this equals an estimated average yearly compensation of $7,267 per employee1

Reported PPP Proceed Usage:

On the PPP application, Early Resources Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $21,575
  • Utilities: $3,596
  • Rent: $3,596

Business Information - Early Resources Inc in Burr Ridge, IL

Early Resources Inc
84 Burr Ridge Parkway
Burr Ridge, IL 60527

Business Industry:
All Other Miscellaneous Schools and Instruction
NAICS code 611699

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

Dupage County, IL — SBA Office 0507 — Congressional District: IL-11

Similar Companies near Burr Ridge

In the Burr Ridge area, 11 businesses in the "All Other Miscellaneous Schools and Instruction" industry received a PPP loan. These local businesses reported an average of 15 employees (compared to this company's 19) and received an average PPP loan of $32,485 (compared to this company's $28,767).

Industry PPP Comparison Statistics

Nationwide, 28,242 businesses in the "All Other Miscellaneous Schools and Instruction" industry received a total of $1.52B 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 9 employees, 53% lower than Early Resources Inc's reported 19 employees, and received an average PPP loan of $53,678, 87% higher than this company's loan of $28,767.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/early-resources-inc-burr-ridge-il