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PPP Loan Data — MBI Staffing LLC,
Woodstock, IL
MBI Staffing LLC
Entity: Limited Liability Company (LLC)
Industry: Employment Placement Agencies
Location: Woodstock, IL
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MBI Staffing LLC is a limited liability company (LLC) located at 2525 Harding Lane in Woodstock, Illinois that received a Coronavirus-related PPP loan from the SBA of $3,550,500.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 181 people during the applicable loan loan period.
$ PPP Loan Information
Loan Size:
Jobs Retained:
181Loan Approved:
2020-04-28Lender:
AMERICAN COMMUNITY BANK & TRUSTMBI Staffing LLC received a Paycheck Protection Loan of $3.55M through AMERICAN COMMUNITY BANK & TRUST, which was approved in April, 2020.
Based on standard PPP eligibility rules, MBI Staffing LLC's total 2019 payroll expenses were approximately $17.04M in order to qualify for the PPP loan amount received.
Based on their reported 181 jobs retained, this equals an estimated average yearly compensation of $94,157 per employee1.
Business Information - MBI Staffing LLC in Woodstock, IL
2525 Harding Lane
Woodstock, IL 60098
Business Industry
Employment Placement Agencies (NAICS code 561311)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: Unreported
Congressional District: IL-14Similar Companies near Woodstock
In the Woodstock area, 2 businesses in the "Employment Placement Agencies" industry received a PPP loan. These local businesses reported an average of 109 employees (compared to this company's 181) and received an average PPP loan of $1,889,850 (compared to this company's $3.55M).
Similar Nearby Businesses Who Received PPP Funding:
Corporate Industrial Staffing, Inc.
Woodstock, IL
Industry PPP Comparison Statistics
Nationwide, 7,294 businesses in the "Employment Placement Agencies" industry received a total of $2,648,453,106.00 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 38 employees, 79% lower than MBI Staffing LLC's reported 181 employees, and received an average PPP loan of $363,100, 90% lower than this company's loan of $3.55M.
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.
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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