PPP Loan Data — FAB Express, Inc, Lemont, IL
FAB Express, Inc
Location: Lemont, ILTweet This • Search All PPP Data
FAB Express, Inc is a corporation located at 11225 S. Joliet Road in Lemont, Illinois that received a Coronavirus-related PPP loan from the SBA of $4,262,000.00 in April, 2020.
$ PPP Loan Information
Lender:WHEATON BANK & TRUST COMPANY, NATIONAL ASSOCIATION
FAB Express, Inc in Lemont, IL received a Paycheck Protection Loan of $4.26M through WHEATON BANK & TRUST COMPANY, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, FAB Express, Inc's total 2019 payroll expenses were approximately $20.46M in order to qualify for the PPP loan amount received.
Based on their reported 365 jobs retained, this equals an estimated average yearly compensation of $56,048 per employee1.
Business Information - FAB Express, Inc in Lemont, IL
11225 S. Joliet Road
Lemont, IL 60439
General Freight Trucking, Long-Distance, Less Than Truckload (NAICS code 484122)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: IL-11
Similar Companies near Lemont
In the Lemont area, 4 businesses in the "General Freight Trucking, Long-Distance, Less Than Truckload" industry received a PPP loan. These local businesses reported an average of 94 employees (compared to this company's 365) and received an average PPP loan of $1,082,422 (compared to this company's $4.26M).
Similar Nearby Businesses Who Received PPP Funding:
MMJ Transportation Inc.
LT United Logistics, Inc.
Virak Express Inc
Industry PPP Comparison Statistics
Nationwide, 3,886 businesses in the "General Freight Trucking, Long-Distance, Less Than Truckload" industry received a total of $330,228,634.00 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 6 employees, 98% lower than FAB Express, Inc's reported 365 employees, and received an average PPP loan of $84,979, 98% lower than this company's loan of $4.26M.
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, and is published unmodified, as provided by the SBA.
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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