PPP Loan Data — Fareva Morton Grove, Inc., Morton Grove, IL
Fareva Morton Grove, Inc. is a corporation located at 6901 Golf Rd in Morton Grove, Illinois that received a Coronavirus-related PPP loan from the SBA of $3,235,000.00 in May, 2020.
$ PPP Loan Information
Lender:NORTHBROOK BANK & TRUST COMPANY, NATIONAL ASSOCIATION
Fareva Morton Grove, Inc. in Morton Grove, IL received a Paycheck Protection Loan of $3.24M through NORTHBROOK BANK & TRUST COMPANY, NATIONAL ASSOCIATION, which was approved in May, 2020.
Based on standard PPP eligibility rules, Fareva Morton Grove, Inc.'s total 2019 payroll expenses were approximately $15.53M in order to qualify for the PPP loan amount received.
Based on their reported 231 jobs retained, this equals an estimated average yearly compensation of $67,221 per employee1.
Business Information - Fareva Morton Grove, Inc. in Morton Grove, IL
6901 Golf Rd
Morton Grove, IL 60053
Pharmaceutical Preparation Manufacturing (NAICS code 325412)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: IL-09
Industry PPP Comparison Statistics
Nationwide, 1,351 businesses in the "Pharmaceutical Preparation Manufacturing" industry received a total of $515,322,883.00 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 22 employees, 90% lower than Fareva Morton Grove, Inc.'s reported 231 employees, and received an average PPP loan of $381,438, 88% lower than this company's loan of $3.24M.
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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