PPP Loan Data — Kay Manufacturing Company, LLC, Calumet City, IL
Kay Manufacturing Company, LLC is a limited liability company (LLC) located at 602 State Street 0.0 in Calumet City, Illinois that received a Coronavirus-related PPP loan from the SBA of $1,971,555.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Kay Manufacturing Company, LLC in Calumet City, IL received a Paycheck Protection Loan of $1.97M through JPMorgan Chase Bank, National Association, which was approved in April, 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, Kay Manufacturing Company, LLC's 2019 payroll expenses are estimated to be at least $9.46M.
Based on their reported 152 jobs retained, this equals an estimated average yearly compensation of $62,260 per employee1
Reported PPP Proceed Usage:
On the PPP application, Kay Manufacturing Company, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,386,555
- Utilities: $150,000
- Rent: $125,000
- Health Care: $230,000
- Debt Interest: $80,000
Business Information - Kay Manufacturing Company, LLC in Calumet City, IL
602 State Street 0.0
Calumet City, IL 60409
NAICS code 332710
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 16,572 businesses in the "Machine Shops" industry received a total of $2.92B 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 15 employees, 90% lower than Kay Manufacturing Company, LLC's reported 152 employees, and received an average PPP loan of $176,279, 91% lower than this company's loan of $1.97M.
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Footnotes & Information
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