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PPP Loan Data — Platinum Home Mortgage Corporation, Rolling Meadows, IL

SBA PPP loan data, payroll data, and salaries for Platinum Home Mortgage Corporation
IL

Platinum Home Mortgage Corporation

Entity: Corporation

Industry: Mortgage and Nonmortgage Loan Brokers

Location: Rolling Meadows, IL

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Platinum Home Mortgage Corporation is a corporation located at 2200 Hicks Road, Suite 101 in Rolling Meadows, Illinois that received a Coronavirus-related PPP loan from the SBA of $4,033,851.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.03M

Jobs Retained:

282

Loan Approved:

2020-04-07

Lender:

CUSTOMERS BANK

Platinum Home Mortgage Corporation received a Paycheck Protection Loan of $4.03M through CUSTOMERS BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Platinum Home Mortgage Corporation's total 2019 payroll expenses were approximately $19.36M in order to qualify for the PPP loan amount received.

Based on their reported 282 jobs retained, this equals an estimated average yearly compensation of $68,661 per employee1.

Because the loan received by Platinum Home Mortgage Corporation 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 - Platinum Home Mortgage Corporation in Rolling Meadows, IL

Platinum Home Mortgage Corporation
2200 Hicks Road, Suite 101
Rolling Meadows, IL 60008

Business Industry

Mortgage and Nonmortgage Loan Brokers (NAICS code 522310)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IL-06

Industry PPP Comparison Statistics

Nationwide, 4,330 businesses in the "Mortgage and Nonmortgage Loan Brokers" industry received a total of $593,727,712.00 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 9 employees, 97% lower than Platinum Home Mortgage Corporation's reported 282 employees, and received an average PPP loan of $137,120, 97% lower than this company's loan of $4.03M.

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/platinum-home-mortgage-corporation-rolling-meadows-il