PPP Loan Data — JD Norman Industries Inc, Addison, IL
JD Norman Industries Inc
Location: Addison, ILTweet This • Search All PPP Data
JD Norman Industries Inc is a corporation located at 787 W Belden Ave in Addison, Illinois that received a Coronavirus-related PPP loan from the SBA of $1,940,264.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
JD Norman Industries Inc in Addison, IL received a Paycheck Protection Loan of $1.94M 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 May, 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, JD Norman Industries Inc's 2019 payroll expenses are estimated to be at least $9.31M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $18,627 per employee1
Reported PPP Proceed Usage:
On the PPP application, JD Norman Industries Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,940,264
Business Information - JD Norman Industries Inc in Addison, IL
787 W Belden Ave
Addison, IL 60101
Metal Crown, Closure, and Other Metal Stamping (except Automotive)
NAICS code 332119
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Addison
In the Addison area, 5 businesses in the "Metal Crown, Closure, and Other Metal Stamping (except Automotive)" industry received a PPP loan. These local businesses reported an average of 137 employees (compared to this company's 500) and received an average PPP loan of $937,042 (compared to this company's $1.94M).
Similar Nearby Businesses Who Received PPP Funding:
Pro-Fab Sheet Metal, Inc
Kenmode Tool And Engineering Inc
T & L Sheet Metal Inc
Industry PPP Comparison Statistics
Nationwide, 1,034 businesses in the "Metal Crown, Closure, and Other Metal Stamping (except Automotive)" industry received a total of $433.82M 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 38 employees, 92% lower than JD Norman Industries Inc's reported 500 employees, and received an average PPP loan of $419,558, 78% lower than this company's loan of $1.94M.
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Footnotes & Information
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