PPP Loan Data — Henricksen & Company, Inc., Itasca, IL
Henricksen & Company, Inc. is a corporation located at 1101 W Thorndale Ave in Itasca, Illinois that received a Coronavirus-related PPP loan from the SBA of $4,527,793.00 in April, 2020.
$ PPP Loan Information
Lender:FIFTH THIRD BANK
Henricksen & Company, Inc. in Itasca, IL received a Paycheck Protection Loan of $4.53M through FIFTH THIRD BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Henricksen & Company, Inc.'s total 2019 payroll expenses were approximately $21.73M in order to qualify for the PPP loan amount received.
Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $86,934 per employee1.
Business Information - Henricksen & Company, Inc. in Itasca, IL
1101 W Thorndale Ave
Itasca, IL 60143
Furniture Merchant Wholesalers (NAICS code 423210)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: IL-08
Similar Companies near Itasca
In the Itasca area, 3 businesses in the "Furniture Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 124 employees (compared to this company's 250) and received an average PPP loan of $1,797,374 (compared to this company's $4.53M).
Similar Nearby Businesses Who Received PPP Funding:
Second Systems, Inc.
Top-Line Furniture Warehouse Corp
Industry PPP Comparison Statistics
Nationwide, 2,847 businesses in the "Furniture Merchant Wholesalers" industry received a total of $449,386,306.00 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 12 employees, 95% lower than Henricksen & Company, Inc.'s reported 250 employees, and received an average PPP loan of $157,846, 97% lower than this company's loan of $4.53M.
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, and is published unmodified, as provided by the SBA.
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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