PPP Loan Data — Much Shelist PC, Chicago, IL
Much Shelist PC is a corporation located at 191 Wacker Dr Ste 1800 in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $3,466,900.00 in April, 2020.
$ PPP Loan Information
Lender:WINTRUST BANK, NATIONAL ASSOCIATION
Much Shelist PC in Chicago, IL received a Paycheck Protection Loan of $3.47M through WINTRUST BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 159 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 166.
Based on standard PPP eligibility rules, Much Shelist PC's total 2019 payroll expenses were approximately $16.64M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 159 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Much Shelist PC in Chicago, IL
191 Wacker Dr Ste 1800
Chicago, IL 60606
Offices of Lawyers (NAICS code 541110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: IL-07
Similar Companies near Chicago
In the Chicago area, 375 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 159) and received an average PPP loan of $308,610 (compared to this company's $3.47M).
Similar Nearby Businesses Who Received PPP Funding:
Dobbs Law LLC
Kumlin & Fromm, LTD
Law Office Of Richard W Rappold PC
Law Offices Of David L. Lee
John M Miraglia LTD
Poulos & Di Benedetto Law, PC
Costa Ivone, LLC
Michael T Fakaros, PC
Sulzer, Shopiro & Patel, LTD
Industry PPP Comparison Statistics
Nationwide, 126,779 businesses in the "Offices of Lawyers" industry received a total of $11,918,471,350.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 6 employees, 96% lower than Much Shelist PC's reported 159 employees, and received an average PPP loan of $94,010, 97% lower than this company's loan of $3.47M.
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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