PPP Loan Data — Paul A. Malito, Frankfort, IL
Paul A. Malito
Entity: Sole Proprietorship
Location: Frankfort, ILTweet This • Search All PPP Data
Paul A. Malito is a sole proprietorship located at 30 South Ash Street in Frankfort, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,300.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:LincolnWay Community Bank
Paul A. Malito in Frankfort, IL received a Paycheck Protection Loan of $25,300 through LincolnWay Community Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in November, 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, Paul A. Malito's 2019 payroll expenses are estimated to be at least $121,440.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,720 per employee1
Reported PPP Proceed Usage:
On the PPP application, Paul A. Malito reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,300
Business Information - Paul A. Malito in Frankfort, IL
30 South Ash Street
Frankfort, IL 60423
Offices of Physical, Occupational and Speech Therapists, and Audiologists
NAICS code 621340
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Frankfort
In the Frankfort area, 10 businesses in the "Offices of Physical, Occupational and Speech Therapists, and Audiologists" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 2) and received an average PPP loan of $29,305 (compared to this company's $25,300).
Similar Nearby Businesses Who Received PPP Funding:
Frankfort Physical Therapy Inc
Sheila Mcmanus Hurley, Slp
Body In Sync Physical Therapy, LTD
Frankfort Physical Therapy
Renee Klyczek Nordstrom
Joint Pro Physical Therapy Inc
Margaret A Ruzich P C
Jasmine V Randle Mayes
Margaret A. Ruzich, PC
Industry PPP Comparison Statistics
Nationwide, 39,529 businesses in the "Offices of Physical, Occupational and Speech Therapists, and Audiologists" industry received a total of $2.73B 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 8 employees, 300% higher than Paul A. Malito's reported 2 employees, and received an average PPP loan of $69,079, 173% higher than this company's loan of $25,300.
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