PPP Loan Data — Martin Equipment Of Illinois, Inc., Goodfield, IL
Martin Equipment Of Illinois, Inc.
Entity: Subchapter S Corporation
Industry: Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance
Location: Goodfield, ILTweet This • Search All PPP Data
Martin Equipment Of Illinois, Inc. is a subchapter s corporation located at 400 W Martin Dr in Goodfield, Illinois that received a Coronavirus-related PPP loan from the SBA of $3,919,800.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 199 people during the applicable loan loan period.
$ PPP Loan Information
Lender:MORTON COMMUNITY BANK
Martin Equipment Of Illinois, Inc. in Goodfield, IL received a Paycheck Protection Loan of $3.92M through MORTON COMMUNITY BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Martin Equipment Of Illinois, Inc.'s total 2019 payroll expenses were approximately $18.82M in order to qualify for the PPP loan amount received.
Based on their reported 199 jobs retained, this equals an estimated average yearly compensation of $94,548 per employee1.
Business Information - Martin Equipment Of Illinois, Inc. in Goodfield, IL
400 W Martin Dr
Goodfield, IL 61742
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: UnreportedCongressional District: IL-18
Similar Companies near Goodfield
In the Goodfield area, 2 businesses in the "Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance" industry received a PPP loan. These local businesses reported an average of 100 employees (compared to this company's 199) and received an average PPP loan of $1,964,699 (compared to this company's $3.92M).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 12,028 businesses in the "Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance" industry received a total of $1,542,124,009.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 10 employees, 95% lower than Martin Equipment Of Illinois, Inc.'s reported 199 employees, and received an average PPP loan of $128,211, 97% lower than this company's loan of $3.92M.
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, and is published unmodified, as provided by the SBA.
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.
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