PPP Loan Data — MR. Dave Music, LLC, Chicago, IL
MR. Dave Music, LLC is a limited liability company (LLC) located at 1935 W Division St in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
MR. Dave Music, LLC in Chicago, IL received a Paycheck Protection Loan of $25,000 through JPMorgan Chase Bank, National Association, which was approved in May, 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, MR. Dave Music, LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 90 jobs retained, this equals an estimated average yearly compensation of $1,333 per employee1
Reported PPP Proceed Usage:
On the PPP application, MR. Dave Music, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $10,373
- Utilities: $800
- Rent: $10,755
- Health Care: $3,072
Business Information - MR. Dave Music, LLC in Chicago, IL
1935 W Division St
Chicago, IL 60622
Independent Artists, Writers, and Performers
NAICS code 711510
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 162 businesses in the "Independent Artists, Writers, and Performers" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 90) and received an average PPP loan of $17,483 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Nicholas Alexander Briz
BLK Girl Art LLC
Industry PPP Comparison Statistics
Nationwide, 99,116 businesses in the "Independent Artists, Writers, and Performers" industry received a total of $1.63B 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 2 employees, 98% lower than MR. Dave Music, LLC's reported 90 employees, and received an average PPP loan of $16,422, 34% lower than this company's loan of $25,000.
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Footnotes & Information
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