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PPP Loan Data — Launch Technical Workforce Solutions, LLC, Oak Brook, IL

SBA PPP loan data, payroll data, and salaries for Launch Technical Workforce Solutions, LLC
IL

Launch Technical Workforce Solutions, LLC

Entity: Limited Liability Company (LLC)

Industry: Aircraft Manufacturing

Location: Oak Brook, IL

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Launch Technical Workforce Solutions, LLC is a limited liability company (LLC) located at 700 Commerce Drive Suite 140 in Oak Brook, Illinois that received a Coronavirus-related PPP loan from the SBA of $10,000,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$10M

Jobs Retained:

500

Loan Approved:

2020-04-15

Lender:

MIDFIRST BANK

Launch Technical Workforce Solutions, LLC received a Paycheck Protection Loan of $10M through MIDFIRST BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Launch Technical Workforce Solutions, LLC's total 2019 payroll expenses were approximately $48M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $96,000 per employee1.

Because the loan received by Launch Technical Workforce Solutions, LLC 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 - Launch Technical Workforce Solutions, LLC in Oak Brook, IL

Launch Technical Workforce Solutions, LLC
700 Commerce Drive Suite 140
Oak Brook, IL 60523

Business Industry

Aircraft Manufacturing (NAICS code 336411)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IL-05

Similar Companies near Oak Brook

In the Oak Brook area, 3 businesses in the "Aircraft Manufacturing" industry received a PPP loan. These local businesses reported an average of 237 employees (compared to this company's 500) and received an average PPP loan of $3,976,533 (compared to this company's $10M).

Industry PPP Comparison Statistics

Nationwide, 433 businesses in the "Aircraft Manufacturing" industry received a total of $144,828,076.00 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 22 employees, 96% lower than Launch Technical Workforce Solutions, LLC's reported 500 employees, and received an average PPP loan of $334,476, 97% lower than this company's loan of $10M.

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.

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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.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/launch-technical-workforce-solutions-llc-oak-brook-il