PPP Loan Data — Empire Carriers Inc, Chicago, IL
Empire Carriers Inc
Location: Chicago, ILTweet This • Search All PPP Data
Empire Carriers Inc is a corporation located at 5121 N East River Rd Unit 3l in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Empire Carriers Inc in Chicago, IL received a Paycheck Protection Loan of $25,000 through Bank of America, National Association, which was approved in May, 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, Empire Carriers Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Empire Carriers Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Empire Carriers Inc in Chicago, IL
5121 N East River Rd Unit 3l
Chicago, IL 60656
General Freight Trucking, Long-Distance, Truckload
NAICS code 484121
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 107 businesses in the "General Freight Trucking, Long-Distance, Truckload" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 2) and received an average PPP loan of $19,495 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Sonic Trans Inc
Suit And Tie Inc
Industry PPP Comparison Statistics
Nationwide, 116,089 businesses in the "General Freight Trucking, Long-Distance, Truckload" industry received a total of $4.64B 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 3 employees, 50% higher than Empire Carriers Inc's reported 2 employees, and received an average PPP loan of $39,939, 60% higher than this company's loan of $25,000.
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