PPP Loan Data — MJS Enterprises Inc, Naperville, IL
MJS Enterprises Inc is a corporation located at 3739 Ryder Ct in Naperville, Illinois that received a Coronavirus-related PPP loan from the SBA of $3,995,637.00 in May, 2020.
$ PPP Loan Information Loan #9840817310
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
MJS Enterprises Inc in Naperville, IL received a Paycheck Protection Loan of $4M through Bank of America, National Association, which was approved in May, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 192. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, MJS Enterprises Inc's 2019 payroll expenses are estimated to be at least $19.18M (not accounting for salary amounts > $100k).
Because the 144 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, MJS Enterprises Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,995,637
Business Information - MJS Enterprises Inc in Naperville, IL
3739 Ryder Ct
Naperville, IL 60564
Freight Transportation Arrangement
NAICS code 488510
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Naperville
In the Naperville area, 11 businesses in the "Freight Transportation Arrangement" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 144) and received an average PPP loan of $439,831 (compared to this company's $4M).
Similar Nearby Businesses Who Received PPP Funding:
Safe Capital Inc
Freight Tech Cartage, Inc
Time Logistics Group Inc
Time Logistics Group Inc
Olympic Logistics Services, Inc
American Freight Solutions, Inc
ML International Inc
Industry PPP Comparison Statistics
Nationwide, 18,058 businesses in the "Freight Transportation Arrangement" industry received a total of $1,703,768,468.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 9 employees, 94% lower than MJS Enterprises Inc's reported 144 employees, and received an average PPP loan of $94,350, 98% lower than this company's loan of $4M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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