PPP Loan Data — Michael Wallschlaeger, Rockford, IL
Michael Wallschlaeger is a sole proprietorship located in Rockford, Illinois that received a Coronavirus-related PPP loan from the SBA of $20,833.00 in March, 2021.
The company has reported itself as a White male owned business, and employed at least one person during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Midwest Community Bank
Michael Wallschlaeger in Rockford, IL received a Paycheck Protection Loan of $20,833 through Midwest Community Bank, which was approved in March, 2021.
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 August, 2021.
Reported PPP Proceed Usage:
On the PPP application, Michael Wallschlaeger reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $20,833
Business Information - Michael Wallschlaeger in Rockford, IL
* Full address is redacted to protect the privacy of individuals.
General Freight Trucking, Local
NAICS code 484110
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Rockford
In the Rockford area, 30 businesses in the "General Freight Trucking, Local" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 1) and received an average PPP loan of $107,764 (compared to this company's $20,833).
Similar Nearby Businesses Who Received PPP Funding:
Howe Freightways Inc
Villalobos Trucking Co
Grimes Trucking LLC
R.a. Seaton Contractor Services, LLC
Harp's Transport LLC
Meiborg Companies, Inc
Industry PPP Comparison Statistics
Nationwide, 172,322 businesses in the "General Freight Trucking, Local" industry received a total of $6.52B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, 300% higher than Michael Wallschlaeger's reported 1 employees, and received an average PPP loan of $37,823, 82% higher than this company's loan of $20,833.
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. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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