PPP Loan Data — Milwaukee Symphony Orchestra Inc, Milwaukee, WI
Milwaukee Symphony Orchestra Inc is a non-profit organization located at 1101 N Market St Ste 100 in Milwaukee, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $2,223,400.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Midwest Bank
Milwaukee Symphony Orchestra Inc in Milwaukee, WI received a Paycheck Protection Loan of $2.22M through First Midwest Bank, which was approved in April, 2020.
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, Milwaukee Symphony Orchestra Inc's 2019 payroll expenses are estimated to be at least $10.67M.
Based on their reported 116 jobs retained, this equals an estimated average yearly compensation of $92,003 per employee1
Reported PPP Proceed Usage:
On the PPP application, Milwaukee Symphony Orchestra Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,223,400
Business Information - Milwaukee Symphony Orchestra Inc in Milwaukee, WI
1101 N Market St Ste 100
Milwaukee, WI 53202
Musical Groups and Artists
NAICS code 711130
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Milwaukee
In the Milwaukee area, 5 businesses in the "Musical Groups and Artists" industry received a PPP loan. These local businesses reported an average of 74 employees (compared to this company's 116) and received an average PPP loan of $607,393 (compared to this company's $2.22M).
Similar Nearby Businesses Who Received PPP Funding:
PTG Live Events LLC
Early Music Now Inc
Industry PPP Comparison Statistics
Nationwide, 28,250 businesses in the "Musical Groups and Artists" industry received a total of $676.79M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 3 employees, 97% lower than Milwaukee Symphony Orchestra Inc's reported 116 employees, and received an average PPP loan of $23,957, 99% lower than this company's loan of $2.22M.
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Footnotes & Information
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