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PPP Loan Data — JS Fort Group Inc, Downers Grove, IL

SBA PPP loan data, payroll data, and salaries for JS Fort Group Inc
IL

JS Fort Group Inc

Entity: Corporation

Industry: Limited-Service Restaurants

Location: Downers Grove, IL

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JS Fort Group Inc is a corporation located at 1400 Brook Dr in Downers Grove, Illinois that received a Coronavirus-related PPP loan from the SBA of $3,720,800.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 186 people during the applicable loan loan period.

$ PPP Loan Information
Loan #7365457005

Loan Size:

$3.72M

Jobs Retained:

186

Loan Approved:

2020-04-07

Loan Status:

Paid in Full or Forgiven

Lender:

INTRUST Bank, National Association

JS Fort Group Inc in Downers Grove, IL received a Paycheck Protection Loan of $3.72M through INTRUST 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 July, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, JS Fort Group Inc's 2019 payroll expenses are estimated to be at least $17.86M.

Based on their reported 186 jobs retained, this equals an estimated average yearly compensation of $96,021 per employee1

Reported PPP Proceed Usage:

On the PPP application, JS Fort Group Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $3,720,800
Because the loan received by JS Fort Group Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - JS Fort Group Inc in Downers Grove, IL

JS Fort Group Inc
1400 Brook Dr
Downers Grove, IL 60515

Business Industry:
Limited-Service Restaurants
NAICS code 722513

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Dupage County, IL — SBA Office 0507 — Congressional District: IL-06

Businesses Using Same Address:

There are 2 other businesses that received a PPP loan registered to the same address as JS Fort Group Inc.

Tossitup Inc
Limited-Service Restaurants

$421,300 PPP Loan

Group 120, Inc
Limited-Service Restaurants

$589,400 PPP Loan

Similar Companies near Downers Grove

In the Downers Grove area, 26 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 186) and received an average PPP loan of $263,221 (compared to this company's $3.72M).

Industry PPP Comparison Statistics

Nationwide, 136,560 businesses in the "Limited-Service Restaurants" industry received a total of $13.87B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 21 employees, 89% lower than JS Fort Group Inc's reported 186 employees, and received an average PPP loan of $101,544, 97% lower than this company's loan of $3.72M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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Source: www.federalpay.org/paycheck-protection-program/js-fort-group-inc-downers-grove-il