PPP Loan Data — Koerner Distributor, Inc., Effingham, IL
Koerner Distributor, Inc. is a subchapter s corporation located at 1601 Pike Ave in Effingham, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,889,700.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 231 people during the applicable loan loan period.
$ PPP Loan Information
Lender:FIFTH THIRD BANK
Koerner Distributor, Inc. in Effingham, IL received a Paycheck Protection Loan of $2.89M through FIFTH THIRD BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Koerner Distributor, Inc.'s total 2019 payroll expenses were approximately $13.87M in order to qualify for the PPP loan amount received.
Based on their reported 231 jobs retained, this equals an estimated average yearly compensation of $60,046 per employee1.
Business Information - Koerner Distributor, Inc. in Effingham, IL
1601 Pike Ave
Effingham, IL 62401
Beer and Ale Merchant Wholesalers (NAICS code 424810)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: IL-15
Industry PPP Comparison Statistics
Nationwide, 1,103 businesses in the "Beer and Ale Merchant Wholesalers" industry received a total of $586,037,858.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 43 employees, 81% lower than Koerner Distributor, Inc.'s reported 231 employees, and received an average PPP loan of $531,313, 82% lower than this company's loan of $2.89M.
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, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. 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.
Have FederalPay.org's open data tools been valuable? Consider donating!