PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Literacy Volunteers Fox Valley, Saint Charles, IL

ALERT: There are 2 PPP loans for a total of $48,642 in our database for businesses with the name "Literacy Volunteers Fox Valley" in Saint Charles, IL. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Literacy Volunteers Fox Valley
IL Nonprofit Organization

Literacy Volunteers Fox Valley

Entity: Non-profit Organization

Industry: Language Schools

Location: Saint Charles, IL

Search All PPP Data

Literacy Volunteers Fox Valley is a non-profit organization located at 1 S 6th Ave in Saint Charles, Illinois that received a Coronavirus-related PPP loan from the SBA of $23,760.00 in January, 2021.

$ PPP Loan Information
Loan #4674658307

Loan Size:

$23,760

Jobs Retained:

4

Loan Approved:

2021-01-23

Loan Status:

Ongoing Loan

Lender:

Fifth Third Bank

Literacy Volunteers Fox Valley in Saint Charles, IL received a Paycheck Protection Loan of $23,760 through Fifth Third Bank, which was approved in January, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Literacy Volunteers Fox Valley's 2019 payroll expenses are estimated to be at least $114,048.

Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $28,512 per employee1

Reported PPP Proceed Usage:

On the PPP application, Literacy Volunteers Fox Valley reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $23,760

Business Information - Literacy Volunteers Fox Valley in Saint Charles, IL

Literacy Volunteers Fox Valley
1 S 6th Ave
Saint Charles, IL 60174

Business Industry:
Language Schools
NAICS code 611630

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Kane County, IL — SBA Office 0507 — Congressional District: IL-06

Industry PPP Comparison Statistics

Nationwide, 1,653 businesses in the "Language Schools" industry received a total of $95.65M 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 12 employees, 200% higher than Literacy Volunteers Fox Valley's reported 4 employees, and received an average PPP loan of $57,863, 144% higher than this company's loan of $23,760.

SBA PPP loan data, payroll data, and salaries for Literacy Volunteers Fox Valley
IL Nonprofit Organization

Literacy Volunteers Fox Valley

Entity: Non-profit Organization

Industry: Educational Support Services

Location: Saint Charles, IL

Search All PPP Data

Literacy Volunteers Fox Valley is a non-profit organization located at 1 S 6th Ave in Saint Charles, Illinois that received a Coronavirus-related PPP loan from the SBA of $24,882.00 in April, 2020.

$ PPP Loan Information
Loan #7653477310

Loan Size:

$24,882

Jobs Retained:

4

Loan Approved:

2020-04-30

Loan Status:

Paid in Full or Forgiven

Lender:

Fifth Third Bank

Literacy Volunteers Fox Valley in Saint Charles, IL received a Paycheck Protection Loan of $24,882 through Fifth Third Bank, which was approved in April, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in December, 2020.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Literacy Volunteers Fox Valley's 2019 payroll expenses are estimated to be at least $119,434.

Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $29,859 per employee1

Reported PPP Proceed Usage:

On the PPP application, Literacy Volunteers Fox Valley reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $24,882

Business Information - Literacy Volunteers Fox Valley in Saint Charles, IL

Literacy Volunteers Fox Valley
1 S 6th Ave
Saint Charles, IL 60174

Business Industry:
Educational Support Services
NAICS code 611710

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: New Business or 2 years or less

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Kane County, IL — SBA Office 0507 — Congressional District: IL-06

Similar Companies near Saint Charles

In the Saint Charles area, 11 businesses in the "Educational Support Services" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 4) and received an average PPP loan of $61,105 (compared to this company's $24,882).

Industry PPP Comparison Statistics

Nationwide, 39,474 businesses in the "Educational Support Services" industry received a total of $2.35B 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 7 employees, 75% higher than Literacy Volunteers Fox Valley's reported 4 employees, and received an average PPP loan of $59,417, 139% higher than this company's loan of $24,882.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/literacy-volunteers-fox-valley-saint-charles-il