PPP Loan Data — J.g. Rule, Princeville, IL
J.g. Rule is a limited liability company (LLC) located at 11323 W Legion Hall Rd in Princeville, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,200.00 in April, 2020.
The company has reported itself as a White owned business, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:CBI Bank & Trust
J.g. Rule in Princeville, IL received a Paycheck Protection Loan of $25,200 through CBI Bank & Trust, which was approved in April, 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 March, 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, J.g. Rule's 2019 payroll expenses are estimated to be at least $120,960.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,480 per employee1
Reported PPP Proceed Usage:
On the PPP application, J.g. Rule reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,200
Business Information - J.g. Rule in Princeville, IL
11323 W Legion Hall Rd
Princeville, IL 61559
NAICS code 111150
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Princeville
In the Princeville area, 86 businesses in the "Corn Farming" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 2) and received an average PPP loan of $21,161 (compared to this company's $25,200).
Similar Nearby Businesses Who Received PPP Funding:
Keith Alan Ehnle
DWM Farms LLC
Steven A Beutel
Industry PPP Comparison Statistics
Nationwide, 91,263 businesses in the "Corn Farming" industry received a total of $1.75B 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 2 employees, the same amount reported by J.g. Rule and received an average PPP loan of $19,196, 24% lower than this company's loan of $25,200.
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Footnotes & Information
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