PPP Loan Data — Freightcar America, Inc., Chicago, IL
Freightcar America, Inc. is a corporation located at 125 South Wacker Drive #1500 in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $10,000,000.00 in April, 2020.
$ PPP Loan Information
Lender:BMO HARRIS BANK NATIONAL ASSOCIATION
Freightcar America, Inc. received a Paycheck Protection Loan of $10M through BMO HARRIS BANK NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Freightcar America, Inc.'s total 2019 payroll expenses were approximately $48M 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 $96,000 per employee1.
Business Information - Freightcar America, Inc. in Chicago, IL
125 South Wacker Drive #1500
Chicago, IL 60606
Railroad Rolling Stock Manufacturing (NAICS code 336510)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: IL-07
Industry PPP Comparison Statistics
Nationwide, 120 businesses in the "Railroad Rolling Stock Manufacturing" industry received a total of $69,530,804.00 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 40 employees, 92% lower than Freightcar America, Inc.'s reported 500 employees, and received an average PPP loan of $579,423, 94% lower than this company's loan of $10M.
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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