PPP Loan Data — The Claro Group LLC, Chicago, IL
The Claro Group LLC
Entity: Limited Liability Company (LLC)
Location: Chicago, ILTweet This • Search All PPP Data
The Claro Group LLC is a limited liability company (LLC) located at 123 N. Wacker Dr in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $1,974,455.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Barrington Bank & Trust Company, National Association
The Claro Group LLC in Chicago, IL received a Paycheck Protection Loan of $1.97M through Barrington Bank & Trust Company, National Association, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 95. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, The Claro Group LLC's 2019 payroll expenses are estimated to be at least $9.48M (not accounting for salary amounts > $100k).
Because the 90 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, The Claro Group LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,480,841
- Utilities: $197,446
- Mortgage Interest: $296,168
Business Information - The Claro Group LLC in Chicago, IL
123 N. Wacker Dr
Chicago, IL 60606
Administrative Management and General Management Consulting Services
NAICS code 541611
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 137 businesses in the "Administrative Management and General Management Consulting Services" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 90) and received an average PPP loan of $162,483 (compared to this company's $1.97M).
Similar Nearby Businesses Who Received PPP Funding:
CGA Nielsen (Global) LLC
Yetter Consulting Services, Inc
Urban Relocation Services
Blackline Group Development Services LLC
Bluestar Computer Solutions, Inc
TJ Marie Consulting
Urban Relocation Services Inc
Industry PPP Comparison Statistics
Nationwide, 94,773 businesses in the "Administrative Management and General Management Consulting Services" industry received a total of $5.51B 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 5 employees, 94% lower than The Claro Group LLC's reported 90 employees, and received an average PPP loan of $58,139, 97% lower than this company's loan of $1.97M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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