PPP Loan Data — Technipaq, Inc, Crystal Lake, IL
Entity: Subchapter S Corporation
Location: Crystal Lake, ILTweet This • Search All PPP Data
Technipaq, Inc is a subchapter s corporation located at 975 Lutter Dr in Crystal Lake, Illinois that received a Coronavirus-related PPP loan from the SBA of $1,736,435.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Midwest Bank
Technipaq, Inc in Crystal Lake, IL received a Paycheck Protection Loan of $1.74M through First Midwest Bank, 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 January, 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, Technipaq, Inc's 2019 payroll expenses are estimated to be at least $8.33M.
Based on their reported 194 jobs retained, this equals an estimated average yearly compensation of $42,963 per employee1
Reported PPP Proceed Usage:
On the PPP application, Technipaq, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,736,435
Business Information - Technipaq, Inc in Crystal Lake, IL
975 Lutter Dr
Crystal Lake, IL 60014
Paper Bag and Coated and Treated Paper Manufacturing
NAICS code 322220
Business Owner Demographics
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 451 businesses in the "Paper Bag and Coated and Treated Paper Manufacturing" industry received a total of $182.41M 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 37 employees, 81% lower than Technipaq, Inc's reported 194 employees, and received an average PPP loan of $404,459, 77% lower than this company's loan of $1.74M.
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Footnotes & Information
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