PPP Loan Data — Quantum Mechanical LLC, Huntley, IL
Quantum Mechanical LLC is a limited liability company (LLC) located at 11182 Victoria Ln in Huntley, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,207.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:The Huntington National Bank
Quantum Mechanical LLC in Huntley, IL received a Paycheck Protection Loan of $25,207 through The Huntington National Bank, which was approved in April, 2020.
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, Quantum Mechanical LLC's 2019 payroll expenses are estimated to be at least $120,994.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,331 per employee1
Reported PPP Proceed Usage:
On the PPP application, Quantum Mechanical LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,207
Business Information - Quantum Mechanical LLC in Huntley, IL
11182 Victoria Ln
Huntley, IL 60142
Computer Storage Device Manufacturing
NAICS code 334112
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Huntley
In the Huntley area, 2 businesses in the "Computer Storage Device Manufacturing" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 3) and received an average PPP loan of $140,719 (compared to this company's $25,207).
Similar Nearby Businesses Who Received PPP Funding:
Prescient Wireless Inc
Industry PPP Comparison Statistics
Nationwide, 283 businesses in the "Computer Storage Device Manufacturing" industry received a total of $78.84M 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, 467% higher than Quantum Mechanical LLC's reported 3 employees, and received an average PPP loan of $278,591, 1005% higher than this company's loan of $25,207.
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