PPP Loan Data — Ernest C. Monaco DMD, Darien, IL
Ernest C. Monaco DMD is a sole proprietorship located at 2600 West 83rd Street in Darien, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,455.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The Huntington National Bank
Ernest C. Monaco DMD in Darien, IL received a Paycheck Protection Loan of $25,455 through The Huntington National Bank, 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 April, 2021.
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, Ernest C. Monaco DMD's 2019 payroll expenses are estimated to be at least $122,184.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,546 per employee1
Reported PPP Proceed Usage:
On the PPP application, Ernest C. Monaco DMD reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,455
Business Information - Ernest C. Monaco DMD in Darien, IL
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
PPP recipients in this industry report an average of 0 employees, 100% lower than Ernest C. Monaco DMD's reported 4 employees, and received an average PPP loan of $0, 100% lower than this company's loan of $25,455.
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Footnotes & Information
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