PPP Loan Data — Joseph J Henderson And Son Inc, Gurnee, IL
Joseph J Henderson And Son Inc
Entity: Subchapter S Corporation
Location: Gurnee, ILTweet This • Search All PPP Data
Joseph J Henderson And Son Inc is a subchapter s corporation located at 4288 Old Grand Ave in Gurnee, Illinois that received a Coronavirus-related PPP loan from the SBA of $1,595,600.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:PNC Bank, National Association
Joseph J Henderson And Son Inc in Gurnee, IL received a Paycheck Protection Loan of $1.6M through PNC Bank, National Association, 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 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, Joseph J Henderson And Son Inc's 2019 payroll expenses are estimated to be at least $7.66M.
Based on their reported 77 jobs retained, this equals an estimated average yearly compensation of $99,466 per employee1
Reported PPP Proceed Usage:
On the PPP application, Joseph J Henderson And Son Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,595,600
Business Information - Joseph J Henderson And Son Inc in Gurnee, IL
4288 Old Grand Ave
Gurnee, IL 60031
Commercial and Institutional Building Construction
NAICS code 236220
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Gurnee
In the Gurnee area, 12 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 44 employees (compared to this company's 77) and received an average PPP loan of $497,101 (compared to this company's $1.6M).
Similar Nearby Businesses Who Received PPP Funding:
The D.b. Loren Co LLC
Poppen Development LLC
William A Randolph Inc
RDS Builders Inc
Triangle Construction & Design, Inc
Fields Associates Inc
Industry PPP Comparison Statistics
Nationwide, 78,873 businesses in the "Commercial and Institutional Building Construction" industry received a total of $12.41B 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 12 employees, 84% lower than Joseph J Henderson And Son Inc's reported 77 employees, and received an average PPP loan of $157,325, 90% lower than this company's loan of $1.6M.
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Footnotes & Information
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