PPP Loan Data — Pearl Foods Enterprises LLC, Chicago, IL
Pearl Foods Enterprises LLC
Location: Chicago, ILTweet This • Search All PPP Data
Pearl Foods Enterprises LLC is a corporation located at 1231 Wabash Ave S in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,342.00 in April, 2020.
The company has reported itself as an Asian male owned business, and employed at least eight people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:U.S. Bank, National Association
Pearl Foods Enterprises LLC in Chicago, IL received a Paycheck Protection Loan of $25,342 through U.S. Bank, National Association, 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 May, 2021.
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, Pearl Foods Enterprises LLC's 2019 payroll expenses are estimated to be at least $121,642.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $15,205 per employee1
Reported PPP Proceed Usage:
On the PPP application, Pearl Foods Enterprises LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,342
Business Information - Pearl Foods Enterprises LLC in Chicago, IL
1231 Wabash Ave S
Chicago, IL 60605
Commercial and Institutional Building Construction
NAICS code 236220
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 19 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 8) and received an average PPP loan of $194,994 (compared to this company's $25,342).
Similar Nearby Businesses Who Received PPP Funding:
Interior Alterations, Inc
Interior Construction Group, Inc
Standard Food Inc
Construction & Management United Services, LLC
Marada Construction Services LLC
Industry PPP Comparison Statistics
Nationwide, 78,873 businesses in the "Commercial and Institutional Building Construction" industry received a total of $12.41B 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 12 employees, 50% higher than Pearl Foods Enterprises LLC's reported 8 employees, and received an average PPP loan of $157,325, 521% higher than this company's loan of $25,342.
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