PPP Loan Data — The Pipco Companies, LTD, Peoria, IL
The Pipco Companies, LTD
Entity: Subchapter S Corporation
Location: Peoria, ILTweet This • Search All PPP Data
The Pipco Companies, LTD is a subchapter s corporation located at 1409 W. Altorfer Dr in Peoria, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,245,110.00 in April, 2020.
The company has reported itself as a female owned business, and employed at least 110 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Hickory Point Bank and Trust
The Pipco Companies, LTD in Peoria, IL received a Paycheck Protection Loan of $2.25M through Hickory Point Bank and Trust, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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 Pipco Companies, LTD's 2019 payroll expenses are estimated to be at least $10.78M.
Based on their reported 110 jobs retained, this equals an estimated average yearly compensation of $97,968 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Pipco Companies, LTD reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,245,110
Business Information - The Pipco Companies, LTD in Peoria, IL
1409 W. Altorfer Dr
Peoria, IL 61615
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220
Business Owner Demographics
Gender: Female Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Peoria
In the Peoria area, 21 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 110) and received an average PPP loan of $322,225 (compared to this company's $2.25M).
Similar Nearby Businesses Who Received PPP Funding:
BL Atherton Plumbing
Tri County Heating & Cooling Inc
C L Obrien Plumbing Co Inc
Peoria Heights, IL
Dries Brothers Plumbing, Inc
Illinois Mechanical Service & Design, Inc
Peoria Heights, IL
Illini Plumbing, Inc
Arnold & Sons Plumbing, Heating & AC Inc
J C Dillon, Inc
Industry PPP Comparison Statistics
Nationwide, 105,811 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $13.07B 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 10 employees, 91% lower than The Pipco Companies, LTD's reported 110 employees, and received an average PPP loan of $123,520, 94% lower than this company's loan of $2.25M.
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