PPP Loan Data — EJM Engineering, Inc, Chicago, IL
EJM Engineering, Inc is a corporation located at 411 S Wells St Ste 1000 in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $1,573,285.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Business Bank
EJM Engineering, Inc in Chicago, IL received a Paycheck Protection Loan of $1.57M through First Business 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, EJM Engineering, Inc's 2019 payroll expenses are estimated to be at least $7.55M.
Based on their reported 87 jobs retained, this equals an estimated average yearly compensation of $86,802 per employee1
Reported PPP Proceed Usage:
On the PPP application, EJM Engineering, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,573,285
Business Information - EJM Engineering, Inc in Chicago, IL
411 S Wells St Ste 1000
Chicago, IL 60607
NAICS code 541330
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 51 businesses in the "Engineering Services" industry received a PPP loan. These local businesses reported an average of 42 employees (compared to this company's 87) and received an average PPP loan of $763,084 (compared to this company's $1.57M).
Similar Nearby Businesses Who Received PPP Funding:
HBK Engineering, LLC
Globetrotters Engineering Corporation
Kaltsouni Mehdi Inc
Pinpoint Precision LLC
Titaniumcre Consultants LLC
Mcguire Engineers, Inc
R & G Engineering, LLC DBA Reach Grow Exceed Engineering
Command Mechanical Group
Industry PPP Comparison Statistics
Nationwide, 47,152 businesses in the "Engineering Services" industry received a total of $9.19B 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 13 employees, 85% lower than EJM Engineering, Inc's reported 87 employees, and received an average PPP loan of $194,873, 88% lower than this company's loan of $1.57M.
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Footnotes & Information
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