PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — North Shore Baking Corp, Chicago, IL

ALERT: There are 2 PPP loans for a total of $400,766 in our database for businesses with the name "North Shore Baking Corp" in Chicago, IL. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for North Shore Baking Corp
IL

North Shore Baking Corp

Entity: Corporation

Industry: Commercial Bakeries

Location: Chicago, IL

Search All PPP Data

North Shore Baking Corp is a corporation located at 2919 W Touhy Ave in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $200,383.00 in January, 2021.

The company has reported itself as a female owned business, and employed at least eighteen people during the applicable loan loan period.

$ PPP Loan Information Loan #3724318304

Loan Size:

$200,383

Jobs Retained:

18

Loan Approved:

2021-01-22

Loan Status:

Ongoing Loan

Lender:

Fifth Third Bank

North Shore Baking Corp in Chicago, IL received a Paycheck Protection Loan of $200,383 through Fifth Third Bank, which was approved in January, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, North Shore Baking Corp's 2019 payroll expenses are estimated to be at least $961,838.

Based on their reported 18 jobs retained, this equals an estimated average yearly compensation of $53,435 per employee1

Reported PPP Proceed Usage:

On the PPP application, North Shore Baking Corp reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $200,381
  • Utilities: $1

Business Information - North Shore Baking Corp in Chicago, IL

North Shore Baking Corp
2919 W Touhy Ave
Chicago, IL 60645

Business Industry:
Commercial Bakeries
NAICS code 311812

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Female Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Cook County, IL — SBA Office 0507 — Congressional District: IL-09

Similar Companies near Chicago

In the Chicago area, 6 businesses in the "Commercial Bakeries" industry received a PPP loan. These local businesses reported an average of 96 employees (compared to this company's 18) and received an average PPP loan of $1,770,015 (compared to this company's $200,383).

Industry PPP Comparison Statistics

Nationwide, 3,849 businesses in the "Commercial Bakeries" industry received a total of $644,140,583.00 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 22 employees, 22% higher than North Shore Baking Corp's reported 18 employees, and received an average PPP loan of $167,353, 16% lower than this company's loan of $200,383.

SBA PPP loan data, payroll data, and salaries for North Shore Baking Corp
IL

North Shore Baking Corp

Entity: Corporation

Industry: Commercial Bakeries

Location: Chicago, IL

Search All PPP Data

North Shore Baking Corp is a corporation located at 2919 W Touhy Ave in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $200,383.00 in April, 2020.

The company has reported itself as a female owned business, and employed at least 24 people during the applicable loan loan period.

$ PPP Loan Information Loan #7926607101

Loan Size:

$200,383

Jobs Retained:

24

Loan Approved:

2020-04-14

Loan Status:

Ongoing Loan

Lender:

Fifth Third Bank

North Shore Baking Corp in Chicago, IL received a Paycheck Protection Loan of $200,383 through Fifth Third Bank, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, North Shore Baking Corp's 2019 payroll expenses are estimated to be at least $961,838.

Based on their reported 24 jobs retained, this equals an estimated average yearly compensation of $40,077 per employee1

Reported PPP Proceed Usage:

On the PPP application, North Shore Baking Corp reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $200,383

Business Information - North Shore Baking Corp in Chicago, IL

North Shore Baking Corp
2919 W Touhy Ave
Chicago, IL 60645

Business Industry:
Commercial Bakeries
NAICS code 311812

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Female Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Cook County, IL — SBA Office 0507 — Congressional District: IL-09

Similar Companies near Chicago

In the Chicago area, 6 businesses in the "Commercial Bakeries" industry received a PPP loan. These local businesses reported an average of 96 employees (compared to this company's 24) and received an average PPP loan of $1,770,015 (compared to this company's $200,383).

Industry PPP Comparison Statistics

Nationwide, 3,849 businesses in the "Commercial Bakeries" industry received a total of $644,140,583.00 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 22 employees, 8% lower than North Shore Baking Corp's reported 24 employees, and received an average PPP loan of $167,353, 16% lower than this company's loan of $200,383.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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Source: www.federalpay.org/paycheck-protection-program/north-shore-baking-corp-chicago-il