PPP Loan Data — JAY Kamin, Rockford, IL
JAY Kamin is a sole proprietorship located at 250 N Mulford Rd in Rockford, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,250.00 in January, 2021.
The company has reported itself as a male owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Midwest Community Bank
JAY Kamin in Rockford, IL received a Paycheck Protection Loan of $25,250 through Midwest Community Bank, which was approved in January, 2021.
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, JAY Kamin's 2019 payroll expenses are estimated to be at least $121,200.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,300 per employee1
Reported PPP Proceed Usage:
On the PPP application, JAY Kamin reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,250
Business Information - JAY Kamin in Rockford, IL
250 N Mulford Rd
Rockford, IL 61107
NAICS code 448310
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Rockford
In the Rockford area, 12 businesses in the "Jewelry Stores" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 4) and received an average PPP loan of $81,411 (compared to this company's $25,250).
Similar Nearby Businesses Who Received PPP Funding:
Christopher's Fine Jewelry & Gifts, Inc
Zavius Jewelers Inc
Normas Jewelry Inc
J Kamin Jewelers
Industry PPP Comparison Statistics
Nationwide, 22,187 businesses in the "Jewelry Stores" industry received a total of $956.02M 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 5 employees, 25% higher than JAY Kamin's reported 4 employees, and received an average PPP loan of $43,089, 71% higher than this company's loan of $25,250.
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Footnotes & Information
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