PPP Loan Data — Quintessential Media Group Inc, Barrington, IL
Quintessential Media Group Inc is a corporation located at 120 Lageschulte St Ste 103 in Barrington, Illinois that received a Coronavirus-related PPP loan from the SBA of $47,142.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Barrington Bank & Trust Company, National Association
Quintessential Media Group Inc in Barrington, IL received a Paycheck Protection Loan of $47,142 through Barrington Bank & Trust Company, National Association, which was approved in January, 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, Quintessential Media Group Inc's 2019 payroll expenses are estimated to be at least $226,282.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $75,427 per employee1
Reported PPP Proceed Usage:
On the PPP application, Quintessential Media Group Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,142
Business Information - Quintessential Media Group Inc in Barrington, IL
120 Lageschulte St Ste 103
Barrington, IL 60010
NAICS code 511120
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Barrington
In the Barrington area, 5 businesses in the "Periodical Publishers" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 3) and received an average PPP loan of $40,115 (compared to this company's $47,142).
Similar Nearby Businesses Who Received PPP Funding:
Morningside Media Inc
Signal Hill Media, Inc
Quintessenetial Media Group,Inc
Industry PPP Comparison Statistics
Nationwide, 3,897 businesses in the "Periodical Publishers" industry received a total of $496.81M 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 10 employees, 233% higher than Quintessential Media Group Inc's reported 3 employees, and received an average PPP loan of $127,486, 170% higher than this company's loan of $47,142.
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Footnotes & Information
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