PPP Loan Data — Fields Pag Inc, Northfield, IL
Fields Pag Inc is a subchapter s corporation located at 670 Frontage Rd in Northfield, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,436,755.00 in April, 2020.
$ PPP Loan Information
Lender:TRUIST BANK D/B/A BRANCH BANKING & TRUST CO
Fields Pag Inc received a Paycheck Protection Loan of $2.44M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 40 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 117.
Based on standard PPP eligibility rules, Fields Pag Inc's total 2019 payroll expenses were approximately $11.7M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 40 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Fields Pag Inc in Northfield, IL
670 Frontage Rd
Northfield, IL 60093
New Car Dealers (NAICS code 441110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: IL-09
Similar Companies near Northfield
In the Northfield area, 3 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 35 employees (compared to this company's 40) and received an average PPP loan of $1,629,418 (compared to this company's $2.44M).
Similar Nearby Businesses Who Received PPP Funding:
Fields Imports Inc.
Industry PPP Comparison Statistics
Nationwide, 16,570 businesses in the "New Car Dealers" industry received a total of $10,869,996,969.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 47 employees, 18% higher than Fields Pag Inc's reported 40 employees, and received an average PPP loan of $656,005, 73% lower than this company's loan of $2.44M.
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Footnotes & Information
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