PPP Loan Data — Highland Baking Company Inc, Northbrook, IL
Highland Baking Company Inc is a corporation located at 2301 Shermer Rd in Northbrook, Illinois that received a Coronavirus-related PPP loan from the SBA of $8,792,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 500 people during the applicable loan loan period.
$ PPP Loan Information
Lender:BMO HARRIS BANK NATIONAL ASSOCIATION
Highland Baking Company Inc received a Paycheck Protection Loan of $8.79M through BMO HARRIS BANK NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Highland Baking Company Inc's total 2019 payroll expenses were approximately $42.2M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $84,403 per employee1.
Business Information - Highland Baking Company Inc in Northbrook, IL
2301 Shermer Rd
Northbrook, IL 60062
Commercial Bakeries (NAICS code 311812)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: IL-09
Similar Companies near Northbrook
In the Northbrook area, 2 businesses in the "Commercial Bakeries" industry received a PPP loan. These local businesses reported an average of 256 employees (compared to this company's 500) and received an average PPP loan of $4,435,702 (compared to this company's $8.79M).
Similar Nearby Businesses Who Received PPP Funding:
Hot Cakes, Inc.
Industry PPP Comparison Statistics
Nationwide, 2,425 businesses in the "Commercial Bakeries" industry received a total of $481,514,310.00 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 22 employees, 96% lower than Highland Baking Company Inc's reported 500 employees, and received an average PPP loan of $198,563, 98% lower than this company's loan of $8.79M.
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.
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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