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PPP Loan Data — The Hektoen Institute For Medical Research, Chicago, IL

SBA PPP loan data, payroll data, and salaries for The Hektoen Institute For Medical Research
IL

The Hektoen Institute For Medical Research

Entity: Corporation

Industry: Research and Development in the Physical, Engineering, and Life Sciences (except Nanotechnology and Biotechnology)

Location: Chicago, IL

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The Hektoen Institute For Medical Research is a corporation located at 1339 S. Wood St in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $3,998,100.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4M

Jobs Retained:

205

Loan Approved:

2020-04-08

Lender:

AMERICAN COMMUNITY BANK & TRUST

The Hektoen Institute For Medical Research received a Paycheck Protection Loan of $4M through AMERICAN COMMUNITY BANK & TRUST, which was approved in April, 2020.

Based on standard PPP eligibility rules, The Hektoen Institute For Medical Research's total 2019 payroll expenses were approximately $19.19M in order to qualify for the PPP loan amount received.

Based on their reported 205 jobs retained, this equals an estimated average yearly compensation of $93,614 per employee1.

Because the loan received by The Hektoen Institute For Medical Research 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 - The Hektoen Institute For Medical Research in Chicago, IL

The Hektoen Institute For Medical Research
1339 S. Wood St
Chicago, IL 60608

Business Industry

Research and Development in the Physical, Engineering, and Life Sciences (except Nanotechnology and Biotechnology) (NAICS code 541715)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IL-07

Similar Companies near Chicago

In the Chicago area, 2 businesses in the "Research and Development in the Physical, Engineering, and Life Sciences (except Nanotechnology and Biotechnology)" industry received a PPP loan. These local businesses reported an average of 112 employees (compared to this company's 205) and received an average PPP loan of $2,010,450 (compared to this company's $4M).

Similar Nearby Businesses Who Received PPP Funding:

Miles Bishop
Chicago, IL

$22,800 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 2,580 businesses in the "Research and Development in the Physical, Engineering, and Life Sciences (except Nanotechnology and Biotechnology)" industry received a total of $574,978,946.00 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 12 employees, 94% lower than The Hektoen Institute For Medical Research's reported 205 employees, and received an average PPP loan of $222,860, 94% lower than this company's loan of $4M.

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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Source: www.federalpay.org/paycheck-protection-program/the-hektoen-institute-for-medical-research-chicago-il