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PPP Loan Data — Elite Labor Services LTD, Chicago, IL

SBA PPP loan data, payroll data, and salaries for Elite Labor Services LTD
IL

Elite Labor Services LTD

Entity: Corporation

Industry: Executive Search Services

Location: Chicago, IL

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Elite Labor Services LTD is a corporation located at 1400 West Hubbard Street, Ste 200 in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $3,499,700.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.5M

Jobs Retained:

313

Loan Approved:

2020-04-27

Lender:

BYLINE BANK

Elite Labor Services LTD received a Paycheck Protection Loan of $3.5M through BYLINE BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Elite Labor Services LTD's total 2019 payroll expenses were approximately $16.8M in order to qualify for the PPP loan amount received.

Based on their reported 313 jobs retained, this equals an estimated average yearly compensation of $53,670 per employee1.

Because the loan received by Elite Labor Services LTD 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 - Elite Labor Services LTD in Chicago, IL

Elite Labor Services LTD
1400 West Hubbard Street, Ste 200
Chicago, IL 60642

Business Industry

Executive Search Services (NAICS code 561312)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IL-05

Similar Companies near Chicago

In the Chicago area, 3 businesses in the "Executive Search Services" industry received a PPP loan. These local businesses reported an average of 105 employees (compared to this company's 313) and received an average PPP loan of $1,177,845 (compared to this company's $3.5M).

Industry PPP Comparison Statistics

Nationwide, 4,499 businesses in the "Executive Search Services" industry received a total of $602,770,500.00 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 12 employees, 96% lower than Elite Labor Services LTD's reported 313 employees, and received an average PPP loan of $133,979, 96% lower than this company's loan of $3.5M.

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.

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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 www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/elite-labor-services-ltd-chicago-il