PPP Loan Data — I.G. Burton & Company, Inc., Milford, DE
I.G. Burton & Company, Inc. is a corporation located at 793 Bay Road in Milford, Delaware that received a Coronavirus-related PPP loan from the SBA of $2,742,800.00 in April, 2020.
$ PPP Loan Information
Lender:JPMORGAN CHASE BANK, NATIONAL ASSOCIATION
I.G. Burton & Company, Inc. in Milford, DE received a Paycheck Protection Loan of $2.74M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, I.G. Burton & Company, Inc.'s total 2019 payroll expenses were approximately $13.17M in order to qualify for the PPP loan amount received.
Based on their reported 220 jobs retained, this equals an estimated average yearly compensation of $59,843 per employee1.
Business Information - I.G. Burton & Company, Inc. in Milford, DE
793 Bay Road
Milford, DE 19963
New Car Dealers (NAICS code 441110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: DE-
Similar Companies near Milford
In the Milford area, 4 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 88 employees (compared to this company's 220) and received an average PPP loan of $1,143,653 (compared to this company's $2.74M).
Similar Nearby Businesses Who Received PPP Funding:
IG Burton Of Smyrna, Inc.
Hertrichs Of Milford, LTD
Hertrich Fleet Services Inc
Industry PPP Comparison Statistics
Nationwide, 16,570 businesses in the "New Car Dealers" industry received a total of $10,869,996,969.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 47 employees, 79% lower than I.G. Burton & Company, Inc.'s reported 220 employees, and received an average PPP loan of $656,005, 76% lower than this company's loan of $2.74M.
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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