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PPP Loan Data — Mcgrath-Colosimo LTD, Chicago, IL

SBA PPP loan data, payroll data, and salaries for Mcgrath-Colosimo LTD

Mcgrath-Colosimo LTD

Entity: Subchapter S Corporation

Industry: New Car Dealers

Location: Chicago, IL

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Mcgrath-Colosimo LTD is a subchapter s corporation located at 1250 W Divison St in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $3,198,904.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 239 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:


Jobs Retained:


Loan Approved:




Mcgrath-Colosimo LTD in Chicago, IL received a Paycheck Protection Loan of $3.2M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Mcgrath-Colosimo LTD's total 2019 payroll expenses were approximately $15.35M in order to qualify for the PPP loan amount received.

Based on their reported 239 jobs retained, this equals an estimated average yearly compensation of $64,246 per employee1.

Because the loan received by Mcgrath-Colosimo LTD 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 - Mcgrath-Colosimo LTD in Chicago, IL

Mcgrath-Colosimo LTD
1250 W Divison St
Chicago, IL 60642

Business Industry

New Car Dealers (NAICS code 441110)

Business Owner Demographics

Race / Ethnicity: Unreported


Veteran Status: Unreported

Congressional District: IL-05

Similar Companies near Chicago

In the Chicago area, 7 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 119 employees (compared to this company's 239) and received an average PPP loan of $1,698,003 (compared to this company's $3.2M).

Industry PPP Comparison Statistics

Nationwide, 16,570 businesses in the "New Car Dealers" industry received a total of $10,869,996,969.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 47 employees, 80% lower than Mcgrath-Colosimo LTD's reported 239 employees, and received an average PPP loan of $656,005, 79% lower than this company's loan of $3.2M.

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.

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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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** This Document Provided By - The Civil Employee's Resource **