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PPP Loan Data — Midwest Center For Womens Healthcare LTD, Bannockburn, IL

ALERT: There are 2 PPP loans for a total of $4.93M in our database for businesses with the name "Midwest Center For Womens Healthcare LTD" in Bannockburn, IL. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Midwest Center For Womens Healthcare LTD
IL

Midwest Center For Womens Healthcare LTD

Entity: Partnership

Industry: Offices of Physicians (except Mental Health Specialists)

Location: Bannockburn, IL

Search All PPP Data

Midwest Center For Womens Healthcare LTD is a partnership located at 2801 Lakeside Dr Ste 209 in Bannockburn, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in April, 2021.

$ PPP Loan Information
Loan #5528878702

Loan Size:

$2M

Jobs Retained:

212

Loan Approved:

2021-04-02

Loan Status:

Paid in Full or Forgiven

Lender:

Bank of America, National Association

Midwest Center For Womens Healthcare LTD in Bannockburn, IL received a Paycheck Protection Loan of $2M through Bank of America, National Association, which was approved in April, 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 November, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Midwest Center For Womens Healthcare LTD's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 212 jobs retained, this equals an estimated average yearly compensation of $45,283 per employee1

Reported PPP Proceed Usage:

On the PPP application, Midwest Center For Womens Healthcare LTD reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,998
  • Utilities: $1
Because the loan received by Midwest Center For Womens Healthcare 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 - Midwest Center For Womens Healthcare LTD in Bannockburn, IL

Midwest Center For Womens Healthcare LTD
2801 Lakeside Dr Ste 209
Bannockburn, IL 60015

Business Industry:
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Lake County, IL — SBA Office 0507 — Congressional District: IL-10

Similar Companies near Bannockburn

In the Bannockburn area, 121 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 15 employees (compared to this company's 212) and received an average PPP loan of $174,457 (compared to this company's $2M).

Industry PPP Comparison Statistics

Nationwide, 176,427 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $21.05B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 3% of the total PPP funding allocated.

PPP recipients in this industry report an average of 11 employees, 95% lower than Midwest Center For Womens Healthcare LTD's reported 212 employees, and received an average PPP loan of $119,313, 94% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Midwest Center For Womens Healthcare LTD
IL

Midwest Center For Womens Healthcare LTD

Entity: Partnership

Industry: Unknown

Location: Bannockburn, IL

Search All PPP Data

Midwest Center For Womens Healthcare LTD is a partnership located at 2801 Lakeside Dr Ste 209 in Bannockburn, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,926,145.00 in May, 2020.

The company has reported itself as a male owned business, and employed at least 185 people during the applicable loan loan period.

$ PPP Loan Information
Loan #5504917700

Loan Size:

$2.93M

Jobs Retained:

185

Loan Approved:

2020-05-01

Loan Status:

Paid in Full or Forgiven

Lender:

Bank of America, National Association

Midwest Center For Womens Healthcare LTD in Bannockburn, IL received a Paycheck Protection Loan of $2.93M 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 July, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Midwest Center For Womens Healthcare LTD's 2019 payroll expenses are estimated to be at least $14.05M.

Based on their reported 185 jobs retained, this equals an estimated average yearly compensation of $75,922 per employee1

Reported PPP Proceed Usage:

On the PPP application, Midwest Center For Womens Healthcare LTD reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,926,145
Because the loan received by Midwest Center For Womens Healthcare 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 - Midwest Center For Womens Healthcare LTD in Bannockburn, IL

Midwest Center For Womens Healthcare LTD
2801 Lakeside Dr Ste 209
Bannockburn, IL 60015

Business Industry:
Unknown
NAICS code 0

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: New Business or 2 years or less

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Lake County, IL — SBA Office 0507 — Congressional District: IL-10

Similar Companies near Bannockburn

In the Bannockburn area, 5,671 businesses in the "Unknown" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 185) and received an average PPP loan of $80,461 (compared to this company's $2.93M).

Industry PPP Comparison Statistics

Nationwide, 132,342 businesses in the "Unknown" industry received a total of $5.86B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 13 employees, 93% lower than Midwest Center For Womens Healthcare LTD's reported 185 employees, and received an average PPP loan of $44,250, 98% lower than this company's loan of $2.93M.

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/midwest-center-for-womens-healthcare-ltd-bannockburn-il