PPP Loan Data — Michael Aragona Architect, Barrington, IL
Michael Aragona Architect is a sole proprietorship located at 117 S Cook St 181 in Barrington, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,115.00 in May, 2020.
The company has reported itself as a White male owned business, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Michael Aragona Architect in Barrington, IL received a Paycheck Protection Loan of $25,115 through Bank of America, National Association, which was approved in May, 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 April, 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, Michael Aragona Architect's 2019 payroll expenses are estimated to be at least $120,552.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,276 per employee1
Reported PPP Proceed Usage:
On the PPP application, Michael Aragona Architect reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,115
Business Information - Michael Aragona Architect in Barrington, IL
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
PPP recipients in this industry report an average of 0 employees, 100% lower than Michael Aragona Architect's reported 2 employees, and received an average PPP loan of $0, 100% lower than this company's loan of $25,115.
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Footnotes & Information
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