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PPP Loan Data — Paddock Publications, Inc, Arlington Heights, IL

SBA PPP loan data, payroll data, and salaries for Paddock Publications, Inc
IL

Paddock Publications, Inc

Entity: Subchapter S Corporation

Industry: Newspaper Publishers

Location: Arlington Heights, IL

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Paddock Publications, Inc is a subchapter s corporation located at Po Box 280 in Arlington Heights, Illinois that received a Coronavirus-related PPP loan from the SBA of $4,001,770.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4M

Jobs Retained:

250

Loan Approved:

2020-04-04

Lender:

VILLAGE BANK AND TRUST, NATIONAL ASSOCIATION

Paddock Publications, Inc received a Paycheck Protection Loan of $4M through VILLAGE BANK AND TRUST, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Paddock Publications, Inc's total 2019 payroll expenses were approximately $19.21M in order to qualify for the PPP loan amount received.

Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $76,834 per employee1.

Because the loan received by Paddock Publications, Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Paddock Publications, Inc in Arlington Heights, IL

Paddock Publications, Inc
Po Box 280
Arlington Heights, IL 60006

Business Industry

Newspaper Publishers (NAICS code 511110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IL-09

Similar Companies near Arlington Heights

In the Arlington Heights area, 2 businesses in the "Newspaper Publishers" industry received a PPP loan. These local businesses reported an average of 126 employees (compared to this company's 250) and received an average PPP loan of $2,003,285 (compared to this company's $4M).

Similar Nearby Businesses Who Received PPP Funding:

The Chicago Shimpo, Nfp
Arlington Heights, IL

$4,800 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 2,840 businesses in the "Newspaper Publishers" industry received a total of $401,663,111.00 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 14 employees, 94% lower than Paddock Publications, Inc's reported 250 employees, and received an average PPP loan of $141,431, 96% lower than this company's loan of $4M.

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.

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Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/paddock-publications-inc-arlington-heights-il