PPP Loan Data — Fblab, Chicago, IL
Fblab is a limited liability company (LLC) located at 4507 N Ravenswood Ave Ste 102 in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,220.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Fblab in Chicago, IL received a Paycheck Protection Loan of $25,220 through Bank of America, National Association, 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, Fblab's 2019 payroll expenses are estimated to be at least $121,056.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,528 per employee1
Reported PPP Proceed Usage:
On the PPP application, Fblab reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,220
Business Information - Fblab in Chicago, IL
4507 N Ravenswood Ave Ste 102
Chicago, IL 60640
Other Services to Buildings and Dwellings
NAICS code 561790
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 9 businesses in the "Other Services to Buildings and Dwellings" industry received a PPP loan. These local businesses reported an average of 1 employees (compared to this company's 2) and received an average PPP loan of $12,377 (compared to this company's $25,220).
Similar Nearby Businesses Who Received PPP Funding:
Nationwide Ceil-Clean, Inc
Emilia's Cleaning Service Inc
R.P Creative Construction LLC
Industry PPP Comparison Statistics
Nationwide, 25,135 businesses in the "Other Services to Buildings and Dwellings" industry received a total of $1.14B 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 7 employees, 250% higher than Fblab's reported 2 employees, and received an average PPP loan of $45,205, 79% higher than this company's loan of $25,220.
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Footnotes & Information
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