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PPP Loan Data — SP Acquisition IL LLC, Niles, IL

SBA PPP loan data, payroll data, and salaries for SP Acquisition IL LLC
IL

SP Acquisition IL LLC

Entity: Subchapter S Corporation

Industry: Miscellaneous Intermediation

Location: Niles, IL

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SP Acquisition IL LLC is a subchapter s corporation located at 6019 W Howard St. in Niles, Illinois that received a Coronavirus-related PPP loan from the SBA of $4,897,700.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 407 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$4.9M

Jobs Retained:

407

Loan Approved:

2020-04-09

Lender:

BMO HARRIS BANK NATIONAL ASSOCIATION

SP Acquisition IL LLC received a Paycheck Protection Loan of $4.9M through BMO HARRIS BANK NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, SP Acquisition IL LLC's total 2019 payroll expenses were approximately $23.51M in order to qualify for the PPP loan amount received.

Based on their reported 407 jobs retained, this equals an estimated average yearly compensation of $57,762 per employee1.

Because the loan received by SP Acquisition IL LLC 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 - SP Acquisition IL LLC in Niles, IL

SP Acquisition IL LLC
6019 W Howard St.
Niles, IL 60714

Business Industry

Miscellaneous Intermediation (NAICS code 523910)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: IL-09

Similar Companies near Niles

In the Niles area, 2 businesses in the "Miscellaneous Intermediation" industry received a PPP loan. These local businesses reported an average of 206 employees (compared to this company's 407) and received an average PPP loan of $2,455,350 (compared to this company's $4.9M).

Similar Nearby Businesses Who Received PPP Funding:

Mehran Investment Inc.
Niles, IL

$13,000 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 7,296 businesses in the "Miscellaneous Intermediation" industry received a total of $471,626,093.00 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 7 employees, 98% lower than SP Acquisition IL LLC's reported 407 employees, and received an average PPP loan of $64,642, 99% lower than this company's loan of $4.9M.

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/sp-acquisition-il-llc-niles-il