First Centennial Mortgage Corporation in Aurora, IL - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — First Centennial Mortgage Corporation, Aurora, IL

First Centennial Mortgage Corporation

Entity: Corporation

Industry: Mortgage and Nonmortgage Loan Brokers

Location: Aurora, IL

First Centennial Mortgage Corporation is a corporation located at 2471 W. Sullivan Rd. in Aurora, Illinois that received a Coronavirus-related PPP loan from the SBA of $4,009,500.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.01M

Jobs Retained:

295

Loan Approved:

2020-04-13

Lender:

BMO HARRIS BANK NATIONAL ASSOCIATION

First Centennial Mortgage Corporation in Aurora, IL received a Paycheck Protection Loan of $4.01M through BMO HARRIS BANK NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, First Centennial Mortgage Corporation's total 2019 payroll expenses were approximately $19.25M in order to qualify for the PPP loan amount received.

Based on their reported 295 jobs retained, this equals an estimated average yearly compensation of $65,239 per employee¹.

Because the loan received by First Centennial Mortgage Corporation is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - First Centennial Mortgage Corporation in Aurora, IL

First Centennial Mortgage Corporation
2471 W. Sullivan Rd.
Aurora, IL 60506

Business Industry

Mortgage and Nonmortgage Loan Brokers (NAICS code 522310)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IL-14

Industry PPP Comparison Statistics

Nationwide, 4,330 businesses in the "Mortgage and Nonmortgage Loan Brokers" industry received a total of $593,727,712.00 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 9 employees, 97% lower than First Centennial Mortgage Corporation's reported 295 employees, and received an average PPP loan of $137,120, 97% lower than this company's loan of $4.01M.

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.

Search FederalPay's Full PPP Loan Database

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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