PPP Loan Data — Make Good Choices, Chicago, IL
Make Good Choices is a self-employed individual located at 7630 S. Coles 3 in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,036.00 in July, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Make Good Choices in Chicago, IL received a Paycheck Protection Loan of $25,036 through Kabbage, Inc., which was approved in July, 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, Make Good Choices' 2019 payroll expenses are estimated to be at least $120,173.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,087 per employee1
Reported PPP Proceed Usage:
On the PPP application, Make Good Choices reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,036
Business Information - Make Good Choices in Chicago, IL
7630 S. Coles 3
Chicago, IL 60649
All Other Telecommunications
NAICS code 517919
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 10,134 businesses in the "All Other Telecommunications" industry received a total of $909.64M 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 8 employees, 300% higher than Make Good Choices' reported 2 employees, and received an average PPP loan of $89,761, 259% higher than this company's loan of $25,036.
FederalPay's PPP Information Policy
Footnotes & Information
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