PPP Loan Data — Fyne Connections 35Th, Chicago, IL
Fyne Connections 35Th is a corporation located at 4740 N Cumberland Ave # 151 in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,255.00 in May, 2020.
The company has reported itself as an Asian male owned business, and employed at least 40 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:JPMorgan Chase Bank, National Association
Fyne Connections 35Th in Chicago, IL received a Paycheck Protection Loan of $25,255 through JPMorgan Chase Bank, 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 May, 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, Fyne Connections 35Th's 2019 payroll expenses are estimated to be at least $121,224.
Based on their reported 40 jobs retained, this equals an estimated average yearly compensation of $3,031 per employee1
Reported PPP Proceed Usage:
On the PPP application, Fyne Connections 35Th reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,255
Business Information - Fyne Connections 35Th in Chicago, IL
4740 N Cumberland Ave # 151
Chicago, IL 60656
NAICS code 443142
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 4 businesses in the "Electronics Stores" industry received a PPP loan. These local businesses reported an average of 42 employees (compared to this company's 40) and received an average PPP loan of $29,880 (compared to this company's $25,255).
Similar Nearby Businesses Who Received PPP Funding:
Clark St Midwest Stereo, Inc DBA Midwest Pro Sound & Lig
Tech Shield It Group
Industry PPP Comparison Statistics
Nationwide, 13,096 businesses in the "Electronics Stores" industry received a total of $848.58M 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 8 employees, 80% lower than Fyne Connections 35Th's reported 40 employees, and received an average PPP loan of $64,797, 157% higher than this company's loan of $25,255.
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Footnotes & Information
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