PPP Loan Data — Modern Forge Companies, LLC, Blue Island, IL
Modern Forge Companies, LLC is a limited liability company (LLC) located at 13810 Western Ave. in Blue Island, Illinois that received a Coronavirus-related PPP loan from the SBA of $8,763,642.00 in April, 2020.
$ PPP Loan Information
Lender:WINTRUST BANK, NATIONAL ASSOCIATION
Modern Forge Companies, LLC in Blue Island, IL received a Paycheck Protection Loan of $8.76M through WINTRUST BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Modern Forge Companies, LLC's total 2019 payroll expenses were approximately $42.07M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $84,131 per employee1.
Business Information - Modern Forge Companies, LLC in Blue Island, IL
13810 Western Ave.
Blue Island, IL 60406
Iron and Steel Forging (NAICS code 332111)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: IL-01
Industry PPP Comparison Statistics
Nationwide, 488 businesses in the "Iron and Steel Forging" industry received a total of $182,828,483.00 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 23 employees, 95% lower than Modern Forge Companies, LLC's reported 500 employees, and received an average PPP loan of $374,649, 96% lower than this company's loan of $8.76M.
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Footnotes & Information
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