PPP Loan Data — Franchise Management Investors Us, LLC, Joliet, IL
Franchise Management Investors Us, LLC is a limited liability company (LLC) located at 2901 Plainfield Rd in Joliet, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,792,500.00 in April, 2020.
$ PPP Loan Information
Lender:BMO HARRIS BANK NATIONAL ASSOCIATION
Franchise Management Investors Us, LLC received a Paycheck Protection Loan of $2.79M through BMO HARRIS BANK NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Franchise Management Investors Us, LLC's total 2019 payroll expenses were approximately $13.4M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $26,808 per employee1.
Business Information - Franchise Management Investors Us, LLC in Joliet, IL
2901 Plainfield Rd
Joliet, IL 60435
Limited-Service Restaurants (NAICS code 722513)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: IL-11
Similar Companies near Joliet
In the Joliet area, 32 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 500) and received an average PPP loan of $129,062 (compared to this company's $2.79M).
Similar Nearby Businesses Who Received PPP Funding:
Rema & Sons
Red Ginger, Inc.
P & A Enterprises, Inc.
ETR Cosmos Inc
The Perfect Coffee Service
Dogs R Us Incorporated
JAY Mahadev Inc.
RKR Dreams Inc
Keyami Essington Inc
Industry PPP Comparison Statistics
Nationwide, 79,996 businesses in the "Limited-Service Restaurants" industry received a total of $9,671,819,152.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 23 employees, 95% lower than Franchise Management Investors Us, LLC's reported 500 employees, and received an average PPP loan of $120,904, 96% lower than this company's loan of $2.79M.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) 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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