PPP Loan Data — Platinum Level Restoration, Corp, Northlake, IL
Platinum Level Restoration, Corp is a corporation located at 304 Whitehall Ave in Northlake, Illinois that received a Coronavirus-related PPP loan from the SBA of $24,899.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Bank of the Lake
Platinum Level Restoration, Corp in Northlake, IL received a Paycheck Protection Loan of $24,899 through First Bank of the Lake, 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, Platinum Level Restoration, Corp's 2019 payroll expenses are estimated to be at least $119,515.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $17,074 per employee1
Reported PPP Proceed Usage:
On the PPP application, Platinum Level Restoration, Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,899
Business Information - Platinum Level Restoration, Corp in Northlake, IL
304 Whitehall Ave
Northlake, IL 60164
NAICS code 238170
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, 4,831 businesses in the "Siding Contractors" industry received a total of $228.83M 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 5 employees, 29% lower than Platinum Level Restoration, Corp's reported 7 employees, and received an average PPP loan of $47,366, 90% higher than this company's loan of $24,899.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!