PPP Loan Data — Mcgrath-Colosimo LTD, Chicago, IL
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
Lender:BANK OF AMERICA, NATIONAL ASSOCIATION
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.
Business Information - Mcgrath-Colosimo LTD in Chicago, IL
1250 W Divison St
Chicago, IL 60642
New Car Dealers (NAICS code 441110)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: UnreportedCongressional 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).
Similar Nearby Businesses Who Received PPP Funding:
Mcgrath Downtown Auto Inc
Mike Anderson Chevrolet Of Chicago LLC
Vista Motors, LTD, LLC
Acia TN Auto LLC
Evergreen Motors, Inc.
Uptown Motors, Inc.
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.
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Footnotes & Information
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