PPP Loan Data — Kidz Korner Daycare, Maywood, IL
Kidz Korner Daycare is a corporation located at 246 S 13th Ave in Maywood, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,014.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least seven people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Kidz Korner Daycare in Maywood, IL received a Paycheck Protection Loan of $25,014 through Bank of America, National Association, 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, Kidz Korner Daycare's 2019 payroll expenses are estimated to be at least $120,067.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $17,152 per employee1
Reported PPP Proceed Usage:
On the PPP application, Kidz Korner Daycare reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,014
Business Information - Kidz Korner Daycare in Maywood, IL
246 S 13th Ave
Maywood, IL 60153
Child Day Care Services
NAICS code 624410
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Maywood
In the Maywood area, 75 businesses in the "Child Day Care Services" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 7) and received an average PPP loan of $16,534 (compared to this company's $25,014).
Similar Nearby Businesses Who Received PPP Funding:
Lisia Morrison DBA Alm Daycare
Industry PPP Comparison Statistics
Nationwide, 132,794 businesses in the "Child Day Care Services" industry received a total of $5.53B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 8 employees, 14% higher than Kidz Korner Daycare's reported 7 employees, and received an average PPP loan of $41,676, 67% higher than this company's loan of $25,014.
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Footnotes & Information
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