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PPP Loan Data — Schulze And Burch Biscuit Co,
Chicago, IL
Schulze And Burch Biscuit Co
Entity: Corporation
Industry: Commercial Bakeries
Location: Chicago, IL
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Schulze And Burch Biscuit Co is a corporation located at 1133 W 35th St in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $5,010,025.00 in May, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
500Loan Approved:
2020-05-01Lender:
BANK OF AMERICA, NATIONAL ASSOCIATIONSchulze And Burch Biscuit Co received a Paycheck Protection Loan of $5.01M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in May, 2020.
Based on standard PPP eligibility rules, Schulze And Burch Biscuit Co's total 2019 payroll expenses were approximately $24.05M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $48,096 per employee1.
Business Information - Schulze And Burch Biscuit Co in Chicago, IL
1133 W 35th St
Chicago, IL 60609
Business Industry
Commercial Bakeries (NAICS code 311812)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: IL-03Similar Companies near Chicago
In the Chicago area, 2 businesses in the "Commercial Bakeries" industry received a PPP loan. These local businesses reported an average of 253 employees (compared to this company's 500) and received an average PPP loan of $2,507,450 (compared to this company's $5.01M).
Similar Nearby Businesses Who Received PPP Funding:
El Moro De Letran Churros & Bakery Inc.
Chicago, IL
Industry PPP Comparison Statistics
Nationwide, 2,425 businesses in the "Commercial Bakeries" industry received a total of $481,514,310.00 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 22 employees, 96% lower than Schulze And Burch Biscuit Co's reported 500 employees, and received an average PPP loan of $198,563, 96% lower than this company's loan of $5.01M.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.
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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