PPP Loan Data — J&K Accounting & Tax Service, Inc, Chicago, IL
J&K Accounting & Tax Service, Inc is a corporation located at 3418 W Foster Ave in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,200.00 in May, 2020.
The company has reported itself as an Asian male owned business, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of Hope
J&K Accounting & Tax Service, Inc in Chicago, IL received a Paycheck Protection Loan of $25,200 through Bank of Hope, which was approved in May, 2020.
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&K Accounting & Tax Service, Inc'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&K Accounting & Tax Service, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,200
Business Information - J&K Accounting & Tax Service, Inc in Chicago, IL
3418 W Foster Ave
Chicago, IL 60625
Offices of Certified Public Accountants
NAICS code 541211
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 13 businesses in the "Offices of Certified Public Accountants" 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 $15,327 (compared to this company's $25,200).
Similar Nearby Businesses Who Received PPP Funding:
Frank P Fitzgerald CPA PC
Fernandez & Associates LTD
Perry C. Hareas CPA, LLC
Nyemoni Enterprises Inc
Roosevelt Tax & Accounting Inc
Desmond A. Taylor & Associates LTD
EZ Tax And Accounting Service Inc
Industry PPP Comparison Statistics
Nationwide, 57,013 businesses in the "Offices of Certified Public Accountants" industry received a total of $4.21B 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 6 employees, 200% higher than J&K Accounting & Tax Service, Inc's reported 2 employees, and received an average PPP loan of $73,772, 193% higher than this company's loan of $25,200.
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