PPP Loan Data — Pickens-Kane Moving & Storage Co, Chicago, IL
Pickens-Kane Moving & Storage Co is a corporation located at 410 N. Milwaukee Avenue in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $1,789,900.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Wheaton Bank & Trust Company, National Association
Pickens-Kane Moving & Storage Co in Chicago, IL received a Paycheck Protection Loan of $1.79M through Wheaton Bank & Trust Company, 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 June, 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, Pickens-Kane Moving & Storage Co's 2019 payroll expenses are estimated to be at least $8.59M.
Based on their reported 110 jobs retained, this equals an estimated average yearly compensation of $78,105 per employee1
Reported PPP Proceed Usage:
On the PPP application, Pickens-Kane Moving & Storage Co reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,342,425
- Utilities: $178,990
- Rent: $268,485
Business Information - Pickens-Kane Moving & Storage Co in Chicago, IL
410 N. Milwaukee Avenue
Chicago, IL 60654
General Warehousing and Storage
NAICS code 493110
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, 4,995 businesses in the "General Warehousing and Storage" industry received a total of $771.67M 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 17 employees, 85% lower than Pickens-Kane Moving & Storage Co's reported 110 employees, and received an average PPP loan of $154,488, 91% lower than this company's loan of $1.79M.
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Footnotes & Information
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