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

PPP Loan Data — Lorig Construction Company, Des Plaines, IL

SBA PPP loan data, payroll data, and salaries for Lorig Construction Company
IL

Lorig Construction Company

Entity: Corporation

Industry: Highway, Street, and Bridge Construction

Location: Des Plaines, IL

Search All PPP Data

Lorig Construction Company is a corporation located at 250 E Touhy Ave in Des Plaines, Illinois that received a Coronavirus-related PPP loan from the SBA of $7,403,982.00 in May, 2020.

$ PPP Loan Information

Loan Size:

$7.4M

Jobs Retained:

374

Loan Approved:

2020-05-01

Lender:

BANK OF AMERICA, NATIONAL ASSOCIATION

Lorig Construction Company received a Paycheck Protection Loan of $7.4M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in May, 2020.

Based on standard PPP eligibility rules, Lorig Construction Company's total 2019 payroll expenses were approximately $35.54M in order to qualify for the PPP loan amount received.

Based on their reported 374 jobs retained, this equals an estimated average yearly compensation of $95,024 per employee1.

Because the loan received by Lorig Construction Company 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 - Lorig Construction Company in Des Plaines, IL

Lorig Construction Company
250 E Touhy Ave
Des Plaines, IL 60018

Business Industry

Highway, Street, and Bridge Construction (NAICS code 237310)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IL-05

Industry PPP Comparison Statistics

Nationwide, 7,070 businesses in the "Highway, Street, and Bridge Construction" industry received a total of $2,867,987,409.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 26 employees, 93% lower than Lorig Construction Company's reported 374 employees, and received an average PPP loan of $405,656, 95% lower than this company's loan of $7.4M.

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.

Search FederalPay's Full PPP Loan Database

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!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/lorig-construction-company-des-plaines-il