PPP Loan Data — Producers National Corporation, Niles, IL
Producers National Corporation is a corporation located at 7400 N. Caldwell in Niles, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,458,000.00 in April, 2020.
$ PPP Loan Information
Lender:WINTRUST BANK, NATIONAL ASSOCIATION
Producers National Corporation received a Paycheck Protection Loan of $2.46M through WINTRUST BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Producers National Corporation's total 2019 payroll expenses were approximately $11.8M in order to qualify for the PPP loan amount received.
Based on their reported 226 jobs retained, this equals an estimated average yearly compensation of $52,205 per employee1.
Business Information - Producers National Corporation in Niles, IL
7400 N. Caldwell
Niles, IL 60714
Insurance Agencies and Brokerages (NAICS code 524210)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: IL-09
Similar Companies near Niles
In the Niles area, 11 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 23 employees (compared to this company's 226) and received an average PPP loan of $243,113 (compared to this company's $2.46M).
Similar Nearby Businesses Who Received PPP Funding:
Richman & Richman Spec
Faller Insurance Agency Inc
Haemin Chong Agency, Inc
Peter Huynh State Farm Insurance Inc.
Dorothy Stamenkovic Insurance Agency Inc
Sky Insurance Services, Inc
Jeff Curry Insurance Agency Inc
Bob Korvas Agency, Inc.
Jill K Martin State Farm Insurance Agent
Industry PPP Comparison Statistics
Nationwide, 90,958 businesses in the "Insurance Agencies and Brokerages" industry received a total of $4,494,836,388.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, 98% lower than Producers National Corporation's reported 226 employees, and received an average PPP loan of $49,417, 98% lower than this company's loan of $2.46M.
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.
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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