PPP Loan Data — Falcon HVAC Services Inc, Lemont, IL
Falcon HVAC Services Inc
Entity: Subchapter S Corporation
Location: Lemont, ILTweet This • Search All PPP Data
Falcon HVAC Services Inc is a subchapter s corporation located at 15850 New Ave Suite 105 in Lemont, Illinois that received a Coronavirus-related PPP loan from the SBA of $46,742.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Providence Bank & Trust
Falcon HVAC Services Inc in Lemont, IL received a Paycheck Protection Loan of $46,742 through Providence Bank & Trust, which was approved in April, 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, Falcon HVAC Services Inc's 2019 payroll expenses are estimated to be at least $224,362.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $44,872 per employee1
Reported PPP Proceed Usage:
On the PPP application, Falcon HVAC Services Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,742
Business Information - Falcon HVAC Services Inc in Lemont, IL
15850 New Ave Suite 105
Lemont, IL 60439
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Lemont
In the Lemont area, 42 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 5) and received an average PPP loan of $61,678 (compared to this company's $46,742).
Similar Nearby Businesses Who Received PPP Funding:
A-Formula Mechanical Corp
J P Universal Plumbing Inc
South Suburban Heating And Air Conditioning Inc
Total Mechanical Service
Shields Enterprises Inc
John P Trama DBA Eagle Mechanical
Industry PPP Comparison Statistics
Nationwide, 105,811 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $13.07B 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 10 employees, 100% higher than Falcon HVAC Services Inc's reported 5 employees, and received an average PPP loan of $123,520, 164% higher than this company's loan of $46,742.
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