PPP Loan Data — South West Industries Inc, Broadview, IL
South West Industries Inc is a corporation located at 2801 S. 19th Ave. in Broadview, Illinois that received a Coronavirus-related PPP loan from the SBA of $1,792,300.00 in April, 2020.
The company has reported itself as a White female owned business, and employed at least 93 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Forest Park National Bank and Trust Company
South West Industries Inc in Broadview, IL received a Paycheck Protection Loan of $1.79M through Forest Park National Bank and Trust Company, 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 April, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based 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, South West Industries Inc's 2019 payroll expenses are estimated to be at least $8.6M.
Based on their reported 93 jobs retained, this equals an estimated average yearly compensation of $92,506 per employee1
Reported PPP Proceed Usage:
On the PPP application, South West Industries Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,792,300
Business Information - South West Industries Inc in Broadview, IL
2801 S. 19th Ave.
Broadview, IL 60155
Other Building Equipment Contractors
NAICS code 238290
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Broadview
In the Broadview area, 3 businesses in the "Other Building Equipment Contractors" industry received a PPP loan. These local businesses reported an average of 39 employees (compared to this company's 93) and received an average PPP loan of $829,876 (compared to this company's $1.79M).
Similar Nearby Businesses Who Received PPP Funding:
Building Services Of Chicago LLC
Standard Cartage Company, Inc
Industry PPP Comparison Statistics
Nationwide, 8,769 businesses in the "Other Building Equipment Contractors" industry received a total of $1.24B 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 11 employees, 88% lower than South West Industries Inc's reported 93 employees, and received an average PPP loan of $141,619, 92% lower than this company's loan of $1.79M.
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Footnotes & Information
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