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

PPP Loan Data — Hardemon & Associates LLC, Chicago, IL

ALERT: There are 2 PPP loans for a total of $125,587 in our database for businesses with the name "Hardemon & Associates LLC" in Chicago, 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 Hardemon & Associates LLC

FRANCHISE

IL

Hardemon & Associates LLC

Entity: Limited Liability Company (LLC)

Industry: Residential Remodelers

Franchise: ServiceMaster

Location: Chicago, IL

Search All PPP Data

Hardemon & Associates LLC is a limited liability company (LLC) located at 8525 S Stony Island Ave in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $100,587.00 in February, 2021. This business is a ServiceMaster franchise.

The company has reported itself as a Black or african american male owned business, and employed at least fifteen people during the applicable loan loan period.

$ PPP Loan Information
Loan #5690138407

Loan Size:

$100,587

Jobs Retained:

15

Loan Approved:

2021-02-09

Loan Status:

Ongoing Loan

Lender:

JPMorgan Chase Bank, National Association

Hardemon & Associates LLC in Chicago, IL received a Paycheck Protection Loan of $100,587 through JPMorgan Chase Bank, National Association, which was approved in February, 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, Hardemon & Associates LLC's 2019 payroll expenses are estimated to be at least $482,818.

Based on their reported 15 jobs retained, this equals an estimated average yearly compensation of $32,188 per employee1

Reported PPP Proceed Usage:

On the PPP application, Hardemon & Associates LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $100,582
  • Utilities: $1

Business Information - Hardemon & Associates LLC in Chicago, IL

Hardemon & Associates LLC
8525 S Stony Island Ave
Chicago, IL 60617

Business Industry:
Residential Remodelers
NAICS code 236118

Business Owner Demographics

Race: Black or African American

Ethnicity: Not Hispanic or Latino

Gender: Male 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

Similar Companies near Chicago

In the Chicago area, 280 businesses in the "Residential Remodelers" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 15) and received an average PPP loan of $24,918 (compared to this company's $100,587).

Industry PPP Comparison Statistics

Nationwide, 175,017 businesses in the "Residential Remodelers" industry received a total of $5.32B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 3 employees, 80% lower than Hardemon & Associates LLC's reported 15 employees, and received an average PPP loan of $30,405, 70% lower than this company's loan of $100,587.

SBA PPP loan data, payroll data, and salaries for Hardemon & Associates LLC
IL

Hardemon & Associates LLC

Entity: Limited Liability Company (LLC)

Industry: Masonry Contractors

Location: Chicago, IL

Search All PPP Data

Hardemon & Associates LLC is a limited liability company (LLC) located at 8525 S Stony Island Ave in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.

The company has reported itself as a Black or african american male owned business, and employed at least twelve people during the applicable loan loan period.

$ PPP Loan Information
Loan #1731357700

Loan Size:

$25,000

Jobs Retained:

12

Loan Approved:

2020-05-01

Loan Status:

Ongoing Loan

Lender:

JPMorgan Chase Bank, National Association

Hardemon & Associates LLC in Chicago, IL received a Paycheck Protection Loan of $25,000 through JPMorgan Chase Bank, National Association, which was approved in May, 2020.

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, Hardemon & Associates LLC's 2019 payroll expenses are estimated to be at least $120,000.

Based on their reported 12 jobs retained, this equals an estimated average yearly compensation of $10,000 per employee1

Reported PPP Proceed Usage:

On the PPP application, Hardemon & Associates LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $25,000

Business Information - Hardemon & Associates LLC in Chicago, IL

Hardemon & Associates LLC
8525 S Stony Island Ave
Chicago, IL 60617

Business Industry:
Masonry Contractors
NAICS code 238140

Business Owner Demographics

Race: Black or African American

Ethnicity: Not Hispanic or Latino

Gender: Male 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

Similar Companies near Chicago

In the Chicago area, 18 businesses in the "Masonry Contractors" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 12) and received an average PPP loan of $54,238 (compared to this company's $25,000).

Industry PPP Comparison Statistics

Nationwide, 16,648 businesses in the "Masonry Contractors" industry received a total of $1.65B 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 9 employees, 25% lower than Hardemon & Associates LLC's reported 12 employees, and received an average PPP loan of $99,369, 297% higher than this company's loan of $25,000.

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.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/hardemon-associates-llc-chicago-il