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PPP Loan Data — Schulze And Burch Biscuit Co, Chicago, IL

SBA PPP loan data, payroll data, and salaries for Schulze And Burch Biscuit Co
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:

$5.01M

Jobs Retained:

500

Loan Approved:

2020-05-01

Lender:

BANK OF AMERICA, NATIONAL ASSOCIATION

Schulze 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.

Because the loan received by Schulze And Burch Biscuit Co 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 - Schulze And Burch Biscuit Co in Chicago, IL

Schulze And Burch Biscuit Co
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-03

Similar 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

$4,875 PPP Loan

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.

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/schulze-and-burch-biscuit-co-chicago-il