PPP Loan Data — Idealease, Inc., Barrington, IL
Location: Barrington, ILTweet This • Search All PPP Data
Idealease, Inc. is a corporation located at 430 N. Rand Road in Barrington, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,463,500.00 in April, 2020.
$ PPP Loan Information
Lender:BMO HARRIS BANK NATIONAL ASSOCIATION
Idealease, Inc. in Barrington, IL received a Paycheck Protection Loan of $2.46M through BMO HARRIS BANK NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Idealease, Inc.'s total 2019 payroll expenses were approximately $11.82M in order to qualify for the PPP loan amount received.
Based on their reported 182 jobs retained, this equals an estimated average yearly compensation of $64,971 per employee1.
Business Information - Idealease, Inc. in Barrington, IL
430 N. Rand Road
Barrington, IL 60010
Truck, Utility Trailer, and RV (Recreational Vehicle) Rental and Leasing (NAICS code 532120)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: IL-06
Industry PPP Comparison Statistics
Nationwide, 1,428 businesses in the "Truck, Utility Trailer, and RV (Recreational Vehicle) Rental and Leasing" industry received a total of $223,290,538.00 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, 93% lower than Idealease, Inc.'s reported 182 employees, and received an average PPP loan of $156,366, 94% lower than this company's loan of $2.46M.
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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