PPP Loan Data — Muscular Dystrophy Association Inc, Chicago, IL
Muscular Dystrophy Association Inc
Entity: Non-profit Organization
Location: Chicago, ILTweet This • Search All PPP Data
Muscular Dystrophy Association Inc is a non-profit organization located at 161 N Clark Ste 3550 in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $8,726,730.00 in May, 2020.
$ PPP Loan Information
Lender:BANK OF AMERICA, NATIONAL ASSOCIATION
Muscular Dystrophy Association Inc in Chicago, IL received a Paycheck Protection Loan of $8.73M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in May, 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 235 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 419.
Based on standard PPP eligibility rules, Muscular Dystrophy Association Inc's total 2019 payroll expenses were approximately $41.89M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 235 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Muscular Dystrophy Association Inc in Chicago, IL
161 N Clark Ste 3550
Chicago, IL 60601
Research and Development in the Social Sciences and Humanities (NAICS code 541720)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: IL-07
Similar Companies near Chicago
In the Chicago area, 4 businesses in the "Research and Development in the Social Sciences and Humanities" industry received a PPP loan. These local businesses reported an average of 63 employees (compared to this company's 235) and received an average PPP loan of $2,241,387 (compared to this company's $8.73M).
Similar Nearby Businesses Who Received PPP Funding:
National Center For Healthcare Leadership
Institute For Work And The Economy
Omnia Institute For Contextual Leadership
Industry PPP Comparison Statistics
Nationwide, 1,676 businesses in the "Research and Development in the Social Sciences and Humanities" industry received a total of $312,582,454.00 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 12 employees, 95% lower than Muscular Dystrophy Association Inc's reported 235 employees, and received an average PPP loan of $186,505, 98% lower than this company's loan of $8.73M.
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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