PPP Loan Data — O'rourke Bros., Inc, Davenport, IA
O'rourke Bros., Inc
Entity: Subchapter S Corporation
Location: Davenport, IATweet This • Search All PPP Data
O'rourke Bros., Inc is a subchapter s corporation located at 3885 Elmore Ave 0.0 in Davenport, Iowa that received a Coronavirus-related PPP loan from the SBA of $1,575,452.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
O'rourke Bros., Inc in Davenport, IA received a Paycheck Protection Loan of $1.58M through JPMorgan Chase Bank, National Association, which was approved in April, 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, O'rourke Bros., Inc's 2019 payroll expenses are estimated to be at least $7.56M.
Based on their reported 127 jobs retained, this equals an estimated average yearly compensation of $59,545 per employee1
Reported PPP Proceed Usage:
On the PPP application, O'rourke Bros., Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,260,452
- Utilities: $15,000
- Rent: $250,000
- Health Care: $50,000
Business Information - O'rourke Bros., Inc in Davenport, IA
3885 Elmore Ave 0.0
Davenport, IA 52807
Household Appliances, Electric Housewares, and Consumer Electronics Merchant Wholesalers
NAICS code 423620
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 3,022 businesses in the "Household Appliances, Electric Housewares, and Consumer Electronics Merchant Wholesalers" industry received a total of $305.5M 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 9 employees, 93% lower than O'rourke Bros., Inc's reported 127 employees, and received an average PPP loan of $101,092, 94% lower than this company's loan of $1.58M.
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Footnotes & Information
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