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PPP Loan Data — Henning, Inc., Machesney Park, IL

SBA PPP loan data, payroll data, and salaries for Henning, Inc.
IL

Henning, Inc.

Entity: Corporation

Industry: Cutting Tool and Machine Tool Accessory Manufacturing

Location: Machesney Park, IL

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Henning, Inc. is a corporation located at 9900 N Alpine in Machesney Park, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,802,500.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.8M

Jobs Retained:

276

Loan Approved:

2020-04-14

Lender:

ILLINOIS BANK & TRUST

Henning, Inc. received a Paycheck Protection Loan of $2.8M through ILLINOIS BANK & TRUST, which was approved in April, 2020.

Based on standard PPP eligibility rules, Henning, Inc.'s total 2019 payroll expenses were approximately $13.45M in order to qualify for the PPP loan amount received.

Based on their reported 276 jobs retained, this equals an estimated average yearly compensation of $48,739 per employee1.

Because the loan received by Henning, Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Henning, Inc. in Machesney Park, IL

Henning, Inc.
9900 N Alpine
Machesney Park, IL 61115

Business Industry

Cutting Tool and Machine Tool Accessory Manufacturing (NAICS code 333515)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IL-16

Similar Companies near Machesney Park

In the Machesney Park area, 2 businesses in the "Cutting Tool and Machine Tool Accessory Manufacturing" industry received a PPP loan. These local businesses reported an average of 144 employees (compared to this company's 276) and received an average PPP loan of $1,439,880 (compared to this company's $2.8M).

Similar Nearby Businesses Who Received PPP Funding:

Thermoplastec Inc
Rockford, IL

$77,260 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 987 businesses in the "Cutting Tool and Machine Tool Accessory Manufacturing" industry received a total of $240,488,771.00 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 17 employees, 94% lower than Henning, Inc.'s reported 276 employees, and received an average PPP loan of $243,656, 91% lower than this company's loan of $2.8M.

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/henning-inc-machesney-park-il