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PPP Loan Data — Rescar Companies, Downers Grove, IL

SBA PPP loan data, payroll data, and salaries for Rescar Companies
IL

Rescar Companies

Entity: Corporation

Industry: Support Activities for Rail Transportation

Location: Downers Grove, IL

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Rescar Companies is a corporation located at 1101 31st Street, Suite 250 in Downers Grove, Illinois that received a Coronavirus-related PPP loan from the SBA of $4,275,082.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.28M

Jobs Retained:

326

Loan Approved:

2020-04-29

Lender:

BANK OF AMERICA, NATIONAL ASSOCIATION

Rescar Companies in Downers Grove, IL received a Paycheck Protection Loan of $4.28M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Rescar Companies' total 2019 payroll expenses were approximately $20.52M in order to qualify for the PPP loan amount received.

Based on their reported 326 jobs retained, this equals an estimated average yearly compensation of $62,946 per employee1.

Because the loan received by Rescar Companies is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Rescar Companies in Downers Grove, IL

Rescar Companies
1101 31st Street, Suite 250
Downers Grove, IL 60515

Business Industry

Support Activities for Rail Transportation (NAICS code 488210)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IL-06

Similar Companies near Downers Grove

In the Downers Grove area, 4 businesses in the "Support Activities for Rail Transportation" industry received a PPP loan. These local businesses reported an average of 84 employees (compared to this company's 326) and received an average PPP loan of $1,084,408 (compared to this company's $4.28M).

Industry PPP Comparison Statistics

Nationwide, 1,521 businesses in the "Support Activities for Rail Transportation" industry received a total of $168,514,052.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 11 employees, 97% lower than Rescar Companies' reported 326 employees, and received an average PPP loan of $110,792, 97% lower than this company's loan of $4.28M.

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, and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/rescar-companies-downers-grove-il