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PPP Loan Data — Swervnation LLC, Chicago, IL

SBA PPP loan data, payroll data, and salaries for Swervnation LLC
IL

Swervnation LLC

Entity: Limited Liability Company (LLC)

Industry: Software Publishers

Location: Chicago, IL

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Swervnation LLC is a limited liability company (LLC) located in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $14,131.00 in August, 2020.

The company has reported itself as a Black or african american male owned business, and employed at least one person during the applicable loan loan period.

$ PPP Loan Information
Loan #5601208207

Loan Size:

$14,131

Jobs Retained:

1

Loan Approved:

2020-08-08

Loan Status:

Paid in Full or Forgiven

Lender:

Cross River Bank

Swervnation LLC in Chicago, IL received a Paycheck Protection Loan of $14,131 through Cross River Bank, which was approved in August, 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 March, 2022.


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, Swervnation LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $14,131

Business Information - Swervnation LLC in Chicago, IL

Swervnation LLC
Chicago, IL
* Full address is redacted to protect the privacy of individuals.

Business Industry:
Software Publishers
NAICS code 511210

Business Owner Demographics

Race: Black or African American

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: New Business or 2 years or less

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Cook County, IL — SBA Office 0507 — Congressional District: IL-07

Similar Companies near Chicago

In the Chicago area, 2 businesses in the "Software Publishers" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 1) and received an average PPP loan of $10,712 (compared to this company's $14,131).

Similar Nearby Businesses Who Received PPP Funding:

Bryj Inc
Chicago, IL

$7,293 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 13,333 businesses in the "Software Publishers" industry received a total of $2.73B 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 13 employees, 1200% higher than Swervnation LLC's reported 1 employees, and received an average PPP loan of $204,547, 1348% higher than this company's loan of $14,131.

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.

Search FederalPay's Full PPP Loan Database

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/swervnation-llc-chicago-il