PPP Loan Data — Hydroaire Service, Inc, Chicago, IL
Hydroaire Service, Inc
Location: Chicago, ILTweet This • Search All PPP Data
Hydroaire Service, Inc is a corporation located at 834 W. Madison St. in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,327,840.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 142 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Fifth Third Bank
Hydroaire Service, Inc in Chicago, IL received a Paycheck Protection Loan of $2.33M through Fifth Third Bank, which was approved in April, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Hydroaire Service, Inc's 2019 payroll expenses are estimated to be at least $11.17M.
Based on their reported 142 jobs retained, this equals an estimated average yearly compensation of $78,688 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hydroaire Service, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,327,840
Business Information - Hydroaire Service, Inc in Chicago, IL
834 W. Madison St.
Chicago, IL 60607
Measuring, Dispensing, and Other Pumping Equipment Manufacturing
NAICS code 333914
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 2 businesses in the "Measuring, Dispensing, and Other Pumping Equipment Manufacturing" industry received a PPP loan. These local businesses reported an average of 97 employees (compared to this company's 142) and received an average PPP loan of $1,494,348 (compared to this company's $2.33M).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 454 businesses in the "Measuring, Dispensing, and Other Pumping Equipment Manufacturing" industry received a total of $125.7M 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 21 employees, 85% lower than Hydroaire Service, Inc's reported 142 employees, and received an average PPP loan of $276,882, 88% lower than this company's loan of $2.33M.
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