PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Gurtler Chemicals Inc, South Holland, IL

ALERT: There are 2 PPP loans for a total of $3.09M in our database for businesses with the name "Gurtler Chemicals Inc" in South Holland, IL. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Gurtler Chemicals Inc
IL

Gurtler Chemicals Inc

Entity: Corporation

Industry: Soap and Other Detergent Manufacturing

Location: South Holland, IL

Search All PPP Data

Gurtler Chemicals Inc is a corporation located at 15475 La Salle St in South Holland, Illinois that received a Coronavirus-related PPP loan from the SBA of $1,497,953.00 in January, 2021.

The company has reported itself as a White female owned business, and employed at least 111 people during the applicable loan loan period.

$ PPP Loan Information
Loan #3516198300

Loan Size:

$1.5M

Jobs Retained:

111

Loan Approved:

2021-01-22

Loan Status:

Ongoing Loan

Lender:

Providence Bank & Trust

Gurtler Chemicals Inc in South Holland, IL received a Paycheck Protection Loan of $1.5M through Providence Bank & Trust, which was approved in January, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Gurtler Chemicals Inc's 2019 payroll expenses are estimated to be at least $7.19M.

Based on their reported 111 jobs retained, this equals an estimated average yearly compensation of $64,776 per employee1

Reported PPP Proceed Usage:

On the PPP application, Gurtler Chemicals Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,497,951
  • Utilities: $1

Business Information - Gurtler Chemicals Inc in South Holland, IL

Gurtler Chemicals Inc
15475 La Salle St
South Holland, IL 60473

Business Industry:
Soap and Other Detergent Manufacturing
NAICS code 325611

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Female Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Cook County, IL — SBA Office 0507 — Congressional District: IL-02

Industry PPP Comparison Statistics

Nationwide, 1,428 businesses in the "Soap and Other Detergent Manufacturing" industry received a total of $162.26M 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 11 employees, 90% lower than Gurtler Chemicals Inc's reported 111 employees, and received an average PPP loan of $113,626, 92% lower than this company's loan of $1.5M.

SBA PPP loan data, payroll data, and salaries for Gurtler Chemicals, Inc
IL

Gurtler Chemicals, Inc

Entity: Corporation

Industry: Soap and Other Detergent Manufacturing

Location: South Holland, IL

Search All PPP Data

Gurtler Chemicals, Inc is a corporation located at 15475 Lasalle St. in South Holland, Illinois that received a Coronavirus-related PPP loan from the SBA of $1,594,783.00 in April, 2020.

The company has reported itself as a White female owned business, and employed at least 98 people during the applicable loan loan period.

$ PPP Loan Information
Loan #1946907108

Loan Size:

$1.59M

Jobs Retained:

98

Loan Approved:

2020-04-10

Loan Status:

Paid in Full or Forgiven

Lender:

Providence Bank & Trust

Gurtler Chemicals, Inc in South Holland, IL received a Paycheck Protection Loan of $1.59M through Providence Bank & Trust, which was approved in April, 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

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Gurtler Chemicals, Inc's 2019 payroll expenses are estimated to be at least $7.65M.

Based on their reported 98 jobs retained, this equals an estimated average yearly compensation of $78,112 per employee1

Reported PPP Proceed Usage:

On the PPP application, Gurtler Chemicals, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,594,783

Business Information - Gurtler Chemicals, Inc in South Holland, IL

Gurtler Chemicals, Inc
15475 Lasalle St.
South Holland, IL 60473

Business Industry:
Soap and Other Detergent Manufacturing
NAICS code 325611

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Female Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Cook County, IL — SBA Office 0507 — Congressional District: IL-02

Industry PPP Comparison Statistics

Nationwide, 1,428 businesses in the "Soap and Other Detergent Manufacturing" industry received a total of $162.26M 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 11 employees, 89% lower than Gurtler Chemicals, Inc's reported 98 employees, and received an average PPP loan of $113,626, 93% lower than this company's loan of $1.59M.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/gurtler-chemicals-inc-south-holland-il