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PPP Loan Data — Summit Staffing,
Oak Brook, IL
Summit Staffing
Entity: Subchapter S Corporation
Industry: Temporary Help Services
Location: Oak Brook, IL
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Summit Staffing is a subchapter s corporation located at 610 Enterprise Dr in Oak Brook, Illinois that received a Coronavirus-related PPP loan from the SBA of $6,250,000.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-14Lender:
FIRST MIDWEST BANKSummit Staffing received a Paycheck Protection Loan of $6.25M through FIRST MIDWEST BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Summit Staffing's total 2019 payroll expenses were approximately $30M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1.
Business Information - Summit Staffing in Oak Brook, IL
610 Enterprise Dr
Oak Brook, IL 60523
Business Industry
Temporary Help Services (NAICS code 561320)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: NON-VETERAN
Congressional District: IL-05Similar Companies near Oak Brook
In the Oak Brook area, 2 businesses in the "Temporary Help Services" industry received a PPP loan. These local businesses reported an average of 253 employees (compared to this company's 500) and received an average PPP loan of $3,189,584 (compared to this company's $6.25M).
Similar Nearby Businesses Who Received PPP Funding:
Talentcraft
Oak Brook, IL
Industry PPP Comparison Statistics
Nationwide, 4,404 businesses in the "Temporary Help Services" industry received a total of $2,681,304,257.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 61 employees, 88% lower than Summit Staffing's reported 500 employees, and received an average PPP loan of $608,834, 90% lower than this company's loan of $6.25M.
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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