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PPP Loan Data — Shanti Sagar Corp, Morris, IL

SBA PPP loan data, payroll data, and salaries for Shanti Sagar Corp
IL

Shanti Sagar Corp

Entity: Corporation

Industry: Hotels (except Casino Hotels) and Motels

Location: Morris, IL

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Shanti Sagar Corp is a corporation located in Morris, Illinois that received a Coronavirus-related PPP loan from the SBA of $1,625.00 in May, 2020.

The company has reported itself as a female owned business, and employed at least one person during the applicable loan loan period.

$ PPP Loan Information
Loan #9290957409

Loan Size:

$1,625

Jobs Retained:

1

Loan Approved:

2020-05-20

Loan Status:

Ongoing Loan

Lender:

Midland States Bank

Shanti Sagar Corp in Morris, IL received a Paycheck Protection Loan of $1,625 through Midland States Bank, which was approved in May, 2020.

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.


PPP Calculation Note: The total PPP loan an eligible business or individual can receive is based on 2.5 times their average monthly 2019 payroll expenses, capped at $100,000 annually per employee.

Reported PPP Proceed Usage:

On the PPP application, Shanti Sagar Corp reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,625

Business Information - Shanti Sagar Corp in Morris, IL

Shanti Sagar Corp
Morris, IL
* Full address is redacted to protect the privacy of individuals.

Business Industry:
Hotels (except Casino Hotels) and Motels
NAICS code 721110

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Female Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age:

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Grundy County, IL — SBA Office 0507 — Congressional District: IL-16

Businesses Using Same Address:

There is one other business that received a PPP loan registered to the same address as Shanti Sagar Corp.

SAI Rsk LLC
Hotels (except Casino Hotels) and Motels

$3,800 PPP Loan

Similar Companies near Morris

In the Morris area, 9 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 1) and received an average PPP loan of $54,259 (compared to this company's $1,625).

Industry PPP Comparison Statistics

Nationwide, 81,995 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13.92B 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 23 employees, 2200% higher than Shanti Sagar Corp's reported 1 employees, and received an average PPP loan of $169,748, 10346% higher than this company's loan of $1,625.

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.

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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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Source: www.federalpay.org/paycheck-protection-program/shanti-sagar-corp-morris-il