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PPP Loan Data — I Want Candy LLC,
Clarendon Hills, IL
I Want Candy LLC
Entity: Limited Liability Company (LLC)
Industry: All Other Miscellaneous Store Retailers (except Tobacco Stores)
Location: Clarendon Hills, IL
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I Want Candy LLC is a limited liability company (LLC) located at 27 S Prospect Ave in Clarendon Hills, Illinois that received a Coronavirus-related PPP loan from the SBA of $19,775.00 in January, 2021.
$
PPP Loan Information
Loan #3725988308
Loan Size:
Jobs Retained:
8Loan Approved:
2021-01-22Loan Status:
Ongoing LoanLender:
Bank of America, National AssociationI Want Candy LLC in Clarendon Hills, IL received a Paycheck Protection Loan of $19,775 through Bank of America, National Association, which was approved in January, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, I Want Candy LLC's 2019 payroll expenses are estimated to be at least $94,920.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $11,865 per employee1
Reported PPP Proceed Usage:
On the PPP application, I Want Candy LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $19,771
- Utilities: $1
Business Information - I Want Candy LLC in Clarendon Hills, IL
27 S Prospect Ave
Clarendon Hills, IL 60514
Business Industry:
All Other Miscellaneous Store Retailers (except Tobacco Stores)
NAICS code 453998
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Clarendon Hills
In the Clarendon Hills area, 30 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 8) and received an average PPP loan of $47,659 (compared to this company's $19,775).
Similar Nearby Businesses Who Received PPP Funding:
Victory Right Inc
Downers Grove, IL
Chicago Clock Co. & Gifts Inc
Clarendon Hills, IL
Anaiz Olmos
Brookfield, IL
Kitchens And Spaces Cabinets Inc
Downers Grove, IL
Spaces For Play Inc
Brookfield, IL
Butterfuss And Associates Inc
Downers Grove, IL
Dariusz Jewelers
Downers Grove, IL
James Patrick Petersen DBA James Petersen
Downers Grove, IL
APG, Inc
Downers Grove, IL
Industry PPP Comparison Statistics
Nationwide, 146,534 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a total of $5.11B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, 50% lower than I Want Candy LLC's reported 8 employees, and received an average PPP loan of $34,905, 77% higher than this company's loan of $19,775.
I Want Candy LLC
Entity: Limited Liability Company (LLC)
Industry: Confectionery and Nut Stores
Location: Clarendon Hills, IL
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I Want Candy LLC is a limited liability company (LLC) located at 27 S Prospect Ave in Clarendon Hills, Illinois that received a Coronavirus-related PPP loan from the SBA of $19,774.00 in May, 2020.
$
PPP Loan Information
Loan #6496247704
Loan Size:
Jobs Retained:
6Loan Approved:
2020-05-01Loan Status:
Paid in Full or ForgivenLender:
Bank of America, National AssociationI Want Candy LLC in Clarendon Hills, IL received a Paycheck Protection Loan of $19,774 through Bank of America, National Association, which was approved in May, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in September, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, I Want Candy LLC's 2019 payroll expenses are estimated to be at least $94,915.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $15,819 per employee1
Reported PPP Proceed Usage:
On the PPP application, I Want Candy LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $19,774
Business Information - I Want Candy LLC in Clarendon Hills, IL
27 S Prospect Ave
Clarendon Hills, IL 60514
Business Industry:
Confectionery and Nut Stores
NAICS code 445292
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: New Business or 2 years or less
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Clarendon Hills
In the Clarendon Hills area, 2 businesses in the "Confectionery and Nut Stores" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 6) and received an average PPP loan of $15,657 (compared to this company's $19,774).
Similar Nearby Businesses Who Received PPP Funding:
Louisa's & Millie's Chocolates, LTD
Downers Grove, IL
Industry PPP Comparison Statistics
Nationwide, 2,043 businesses in the "Confectionery and Nut Stores" industry received a total of $95.4M 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 11 employees, 83% higher than I Want Candy LLC's reported 6 employees, and received an average PPP loan of $46,696, 136% higher than this company's loan of $19,774.
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. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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