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PPP Loan Data — Seven-D Construction Company,
Chicago, IL
Seven-D Construction Company
Entity: Subchapter S Corporation
Industry: Highway, Street, and Bridge Construction
Location: Chicago, IL
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Seven-D Construction Company is a subchapter s corporation located at 2000 W 43rd St in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.
$
PPP Loan Information
Loan #9086938402
Loan Size:
Jobs Retained:
146Loan Approved:
2021-02-14Loan Status:
Ongoing LoanLender:
American Commercial Bank & Trust, National AssociationSeven-D Construction Company in Chicago, IL received a Paycheck Protection Loan of $2M through American Commercial Bank & Trust, National Association, which was approved in February, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Seven-D Construction Company's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 146 jobs retained, this equals an estimated average yearly compensation of $65,753 per employee1
Reported PPP Proceed Usage:
On the PPP application, Seven-D Construction Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,997
- Utilities: $1
Business Information - Seven-D Construction Company in Chicago, IL
2000 W 43rd St
Chicago, IL 60609
Business Industry:
Highway, Street, and Bridge Construction
NAICS code 237310
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 3 businesses in the "Highway, Street, and Bridge Construction" industry received a PPP loan. These local businesses reported an average of 65 employees (compared to this company's 146) and received an average PPP loan of $891,667 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Beverly Asphalt Paving Co
Chicago, IL
Industry PPP Comparison Statistics
Nationwide, 11,409 businesses in the "Highway, Street, and Bridge Construction" industry received a total of $3.92B 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 26 employees, 82% lower than Seven-D Construction Company's reported 146 employees, and received an average PPP loan of $343,619, 83% lower than this company's loan of $2M.
Seven-D Construction Company
Entity: Subchapter S Corporation
Industry: Commercial and Institutional Building Construction
Location: Chicago, IL
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Seven-D Construction Company is a subchapter s corporation located at 2000 W 43rd St in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,463,610.00 in April, 2020.
$
PPP Loan Information
Loan #7949387001
Loan Size:
Jobs Retained:
146Loan Approved:
2020-04-08Loan Status:
Paid in Full or ForgivenLender:
Hinsdale Bank & Trust Company, National AssociationSeven-D Construction Company in Chicago, IL received a Paycheck Protection Loan of $2.46M through Hinsdale Bank & Trust Company, National Association, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in August, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Seven-D Construction Company's 2019 payroll expenses are estimated to be at least $11.83M.
Based on their reported 146 jobs retained, this equals an estimated average yearly compensation of $80,995 per employee1
Reported PPP Proceed Usage:
On the PPP application, Seven-D Construction Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,847,708
- Utilities: $246,361
- Mortgage Interest: $369,542
Business Information - Seven-D Construction Company in Chicago, IL
2000 W 43rd St
Chicago, IL 60609
Business Industry:
Commercial and Institutional Building Construction
NAICS code 236220
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 32 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 146) and received an average PPP loan of $154,919 (compared to this company's $2.46M).
Similar Nearby Businesses Who Received PPP Funding:
York Construction & Management Services LLC
Chicago, IL
Mikk Construction And Developers LLC
Chicago, IL
Iron Horse Construction Services, Inc
Chicago, IL
Novelli Construction, Inc
Chicago, IL
Harvey Property Group Inc
Chicago, IL
Darian Griggs
Chicago, IL
Shahidah Hashim
Chicago, IL
Sam Lu Construction Co
Chicago, IL
Gregory Carter
Chicago, IL
Industry PPP Comparison Statistics
Nationwide, 77,396 businesses in the "Commercial and Institutional Building Construction" industry received a total of $12.37B 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 12 employees, 92% lower than Seven-D Construction Company's reported 146 employees, and received an average PPP loan of $159,889, 94% lower than this company's loan of $2.46M.
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. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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