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PPP Loan Data — Hoffman Transportation, Inc., Channahon, IL

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

Hoffman Transportation, Inc.

Entity: Corporation

Industry: Short Line Railroads

Location: Channahon, IL

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Hoffman Transportation, Inc. is a corporation located at 26062 Sw Frontage Road in Channahon, Illinois that received a Coronavirus-related PPP loan from the SBA of $3,709,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.71M

Jobs Retained:

224

Loan Approved:

2020-04-07

Lender:

WINTRUST BANK, NATIONAL ASSOCIATION

Hoffman Transportation, Inc. in Channahon, IL received a Paycheck Protection Loan of $3.71M through WINTRUST BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Hoffman Transportation, Inc.'s total 2019 payroll expenses were approximately $17.8M in order to qualify for the PPP loan amount received.

Based on their reported 224 jobs retained, this equals an estimated average yearly compensation of $79,479 per employee1.

Because the loan received by Hoffman Transportation, 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 - Hoffman Transportation, Inc. in Channahon, IL

Hoffman Transportation, Inc.
26062 Sw Frontage Road
Channahon, IL 60410

Business Industry

Short Line Railroads (NAICS code 482112)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IL-16

Industry PPP Comparison Statistics

Nationwide, 146 businesses in the "Short Line Railroads" industry received a total of $44,761,785.00 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 20 employees, 91% lower than Hoffman Transportation, Inc.'s reported 224 employees, and received an average PPP loan of $306,588, 92% lower than this company's loan of $3.71M.

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.

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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/hoffman-transportation-inc-channahon-il