PPP Loan Data — RMK Management Corporation, Chicago, IL
RMK Management Corporation is a corporation located at 1 N Franklin Suite 700 in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,188,900.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
RMK Management Corporation in Chicago, IL received a Paycheck Protection Loan of $2.19M through PNC 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, RMK Management Corporation's 2019 payroll expenses are estimated to be at least $10.51M.
Based on their reported 187 jobs retained, this equals an estimated average yearly compensation of $56,186 per employee1
Reported PPP Proceed Usage:
On the PPP application, RMK Management Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,188,900
Business Information - RMK Management Corporation in Chicago, IL
1 N Franklin Suite 700
Chicago, IL 60606
Lessors of Residential Buildings and Dwellings
NAICS code 531110
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 45 businesses in the "Lessors of Residential Buildings and Dwellings" industry received a PPP loan. These local businesses reported an average of 14 employees (compared to this company's 187) and received an average PPP loan of $151,241 (compared to this company's $2.19M).
Similar Nearby Businesses Who Received PPP Funding:
Adams Lasalle Realty LLC
Wright Layne Development LLC
Advocate Commercial Real Estate Advisors, LLC
Moran & Comapny
Kinzie Properties, LLC
Apex National Real Estate LLC
Cobb Hill Owner LLC
Industry PPP Comparison Statistics
Nationwide, 28,867 businesses in the "Lessors of Residential Buildings and Dwellings" industry received a total of $2.03B 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 8 employees, 96% lower than RMK Management Corporation's reported 187 employees, and received an average PPP loan of $70,456, 97% lower than this company's loan of $2.19M.
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Footnotes & Information
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