PPP Loan Data — Ricondo & Associates, Inc, Chicago, IL
Ricondo & Associates, Inc
Entity: Subchapter S Corporation
Location: Chicago, ILTweet This • Search All PPP Data
Ricondo & Associates, Inc is a subchapter s corporation located at 20 North Clark Street, Suite 1500 in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $3,500,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 179 people during the applicable loan loan period.
$ PPP Loan Information Loan #8550687109
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Ricondo & Associates, Inc in Chicago, IL received a Paycheck Protection Loan of $3.5M through JPMorgan Chase Bank, National Association, 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, Ricondo & Associates, Inc's 2019 payroll expenses are estimated to be at least $16.8M.
Based on their reported 179 jobs retained, this equals an estimated average yearly compensation of $93,855 per employee1
Reported PPP Proceed Usage:
On the PPP application, Ricondo & Associates, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,113,100
- Utilities: $25,000
- Rent: $150,150
- Health Care: $198,000
- Debt Interest: $13,750
Business Information - Ricondo & Associates, Inc in Chicago, IL
20 North Clark Street, Suite 1500
Chicago, IL 60602
Administrative Management and General Management Consulting Services
NAICS code 541611
Business Owner Demographics
Ethnicity: 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 Chicago
In the Chicago area, 87 businesses in the "Administrative Management and General Management Consulting Services" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 179) and received an average PPP loan of $474,903 (compared to this company's $3.5M).
Similar Nearby Businesses Who Received PPP Funding:
Peter Pan Restaurant Management & Consultants, Inc
Fazal Investment Group LLC
New Cumnock Consulting Inc
The Exeter Group - Tms, LLC
Achara Consulting, Inc
Cerenti Marketing Group LLC
Industry PPP Comparison Statistics
Nationwide, 74,586 businesses in the "Administrative Management and General Management Consulting Services" industry received a total of $5,067,925,067.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 6 employees, 97% lower than Ricondo & Associates, Inc's reported 179 employees, and received an average PPP loan of $67,947, 98% lower than this company's loan of $3.5M.
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