PPP Loan Data — Marion #1727, Inc, Skokie, IL
Marion #1727, Inc is a sole proprietorship located at 3602 W Touhy Avenue in Skokie, Illinois that received a Coronavirus-related PPP loan from the SBA of $24,977.00 in April, 2020. This business is a Jimmy John's franchise.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Wintrust Bank, National Association
Marion #1727, Inc in Skokie, IL received a Paycheck Protection Loan of $24,977 through Wintrust Bank, National Association, 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 June, 2021.
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, Marion #1727, Inc's 2019 payroll expenses are estimated to be at least $119,890.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $11,989 per employee1
Reported PPP Proceed Usage:
On the PPP application, Marion #1727, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $18,734
- Rent: $6,243
Business Information - Marion #1727, Inc in Skokie, IL
3602 W Touhy Avenue
Skokie, IL 60076
NAICS code 722511
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Skokie
In the Skokie area, 80 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 14 employees (compared to this company's 10) and received an average PPP loan of $100,516 (compared to this company's $24,977).
Similar Nearby Businesses Who Received PPP Funding:
Jose D Gonzalez Morales
The Original Poochies Inc
Caruso And Miles, LTD
Euro Echo Cafe LLC
Rivaan Skokie Inc
Industry PPP Comparison Statistics
Nationwide, 328,914 businesses in the "Full-Service Restaurants" industry received a total of $42.6B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 5% of the total PPP funding allocated.
PPP recipients in this industry report an average of 22 employees, 120% higher than Marion #1727, Inc's reported 10 employees, and received an average PPP loan of $129,504, 418% higher than this company's loan of $24,977.
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Footnotes & Information
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