PPP Loan Data — Liberty Staffing, Inc, Hinsdale, IL
Liberty Staffing, Inc is a subchapter s corporation located at 422 E 6th Street in Hinsdale, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,789,700.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Wintrust Bank, National Association
Liberty Staffing, Inc in Hinsdale, IL received a Paycheck Protection Loan of $2.79M through Wintrust 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, Liberty Staffing, Inc's 2019 payroll expenses are estimated to be at least $13.39M.
Based on their reported 383 jobs retained, this equals an estimated average yearly compensation of $34,962 per employee1
Reported PPP Proceed Usage:
On the PPP application, Liberty Staffing, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,092,275
- Utilities: $348,713
- Rent: $348,713
Business Information - Liberty Staffing, Inc in Hinsdale, IL
422 E 6th Street
Hinsdale, IL 60521
NAICS code 561720
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Hinsdale
In the Hinsdale area, 3 businesses in the "Janitorial Services" industry received a PPP loan. These local businesses reported an average of 128 employees (compared to this company's 383) and received an average PPP loan of $942,598 (compared to this company's $2.79M).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 146,067 businesses in the "Janitorial Services" industry received a total of $4.43B 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 5 employees, 99% lower than Liberty Staffing, Inc's reported 383 employees, and received an average PPP loan of $30,311, 99% lower than this company's loan of $2.79M.
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Footnotes & Information
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