PPP Loan Data — Procision Heating, Cooling And Refrigeration, Inc, Alsip, IL
Procision Heating, Cooling And Refrigeration, Inc
Location: Alsip, ILTweet This • Search All PPP Data
Procision Heating, Cooling And Refrigeration, Inc is a corporation located at 12004 S Central Ave in Alsip, Illinois that received a Coronavirus-related PPP loan from the SBA of $270,295.00 in April, 2020.
$ PPP Loan Information
Lender:FIRST MIDWEST BANK
Procision Heating, Cooling And Refrigeration, Inc received a Paycheck Protection Loan of $270,295 through FIRST MIDWEST BANK, which was approved in April, 2020.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 0.
Based on standard PPP eligibility rules, Procision Heating, Cooling And Refrigeration, Inc's total 2019 payroll expenses were approximately $1.3M in order to qualify for the PPP loan amount received.
Based on their reported 18 jobs retained, this equals an estimated average yearly compensation of $72,079 per employee1.
Business Information - Procision Heating, Cooling And Refrigeration, Inc in Alsip, IL
12004 S Central Ave
Alsip, IL 60803
Plumbing, Heating, and Air-Conditioning Contractors (NAICS code 238220)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: NON-VETERANCongressional District: IL-01
Similar Companies near Alsip
In the Alsip area, 11 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 25 employees (compared to this company's 18) and received an average PPP loan of $671,053 (compared to this company's $270,295).
Similar Nearby Businesses Who Received PPP Funding:
Green Howe Plumbing Inc
Trojan Plumbing Company, Inc
THY Kingdom Plumbing
Standard Heat Treating Buildings LLC
CJ Erickson Plumbing Co
B. Bruce Incorporated
DEE Plumbing & Sewer, Inc
Industry PPP Comparison Statistics
Nationwide, 60,482 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $9,373,583,135.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 11 employees, 39% lower than Procision Heating, Cooling And Refrigeration, Inc's reported 18 employees, and received an average PPP loan of $154,981, 43% lower than this company's loan of $270,295.
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. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
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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