PPP Loan Data — Hamlin Citgo Inc, Chicago, IL
Hamlin Citgo Inc is a subchapter s corporation located at 3759 W Chicago Ave in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $46,992.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Midwest Bank
Hamlin Citgo Inc in Chicago, IL received a Paycheck Protection Loan of $46,992 through First Midwest Bank, which was approved in April, 2020.
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, Hamlin Citgo Inc's 2019 payroll expenses are estimated to be at least $225,562.
Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $25,062 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hamlin Citgo Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,992
Business Information - Hamlin Citgo Inc in Chicago, IL
3759 W Chicago Ave
Chicago, IL 60651
Gasoline Stations with Convenience Stores
NAICS code 447110
Business Owner Demographics
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 15 businesses in the "Gasoline Stations with Convenience Stores" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 9) and received an average PPP loan of $24,307 (compared to this company's $46,992).
Similar Nearby Businesses Who Received PPP Funding:
Laramie Marathon, Inc
Pulaski Marathon, Inc
Grand Fuel Mart Inc
Chicago Ave Marathon, Inc
Pulaski Gas 82, Inc
Grand Ave Station LLC
JGJ Enterprise Inc
Industry PPP Comparison Statistics
Nationwide, 45,026 businesses in the "Gasoline Stations with Convenience Stores" industry received a total of $2.06B 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 10 employees, 11% higher than Hamlin Citgo Inc's reported 9 employees, and received an average PPP loan of $45,821, 2% lower than this company's loan of $46,992.
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Footnotes & Information
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