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PPP Loan Data — Smithamundsen LLC,
Chicago, IL
Smithamundsen LLC
Entity: Limited Liability Company (LLC)
Industry: Offices of Lawyers
Location: Chicago, IL
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Smithamundsen LLC is a limited liability company (LLC) located at 150 N Michigan Ave, Suite 3300 in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $5,789,200.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 287 people during the applicable loan loan period.
$ PPP Loan Information
Loan Size:
Jobs Retained:
287Loan Approved:
2020-04-10Lender:
BMO HARRIS BANK NATIONAL ASSOCIATIONSmithamundsen LLC received a Paycheck Protection Loan of $5.79M through BMO HARRIS BANK NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Smithamundsen LLC's total 2019 payroll expenses were approximately $27.79M in order to qualify for the PPP loan amount received.
Based on their reported 287 jobs retained, this equals an estimated average yearly compensation of $96,823 per employee1.
Business Information - Smithamundsen LLC in Chicago, IL
150 N Michigan Ave, Suite 3300
Chicago, IL 60601
Business Industry
Offices of Lawyers (NAICS code 541110)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: Unreported
Congressional District: IL-07Similar Companies near Chicago
In the Chicago area, 696 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 287) and received an average PPP loan of $147,444 (compared to this company's $5.79M).
Similar Nearby Businesses Who Received PPP Funding:
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Howard S Kavenow, LLC
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Williams, Bax & Saltzman, PC
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Glen J Dunn & Associates, LTD
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Industry PPP Comparison Statistics
Nationwide, 126,779 businesses in the "Offices of Lawyers" industry received a total of $11,918,471,350.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 6 employees, 98% lower than Smithamundsen LLC's reported 287 employees, and received an average PPP loan of $94,010, 98% lower than this company's loan of $5.79M.
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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