PPP Loan Data — Top-Ten Express, Corporation, Gurnee, IL
Top-Ten Express, Corporation
Location: Gurnee, ILTweet This • Search All PPP Data
Top-Ten Express, Corporation is a corporation located at 2001 Delany Rd N in Gurnee, Illinois that received a Coronavirus-related PPP loan from the SBA of $1,517,670.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:U.S. Bank, National Association
Top-Ten Express, Corporation in Gurnee, IL received a Paycheck Protection Loan of $1.52M through U.S. Bank, National Association, which was approved in May, 2020.
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, Top-Ten Express, Corporation's 2019 payroll expenses are estimated to be at least $7.28M.
Based on their reported 108 jobs retained, this equals an estimated average yearly compensation of $67,452 per employee1
Reported PPP Proceed Usage:
On the PPP application, Top-Ten Express, Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,517,670
Business Information - Top-Ten Express, Corporation in Gurnee, IL
2001 Delany Rd N
Gurnee, IL 60031
General Freight Trucking, Long-Distance, Truckload
NAICS code 484121
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Gurnee
In the Gurnee area, 17 businesses in the "General Freight Trucking, Long-Distance, Truckload" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 108) and received an average PPP loan of $112,868 (compared to this company's $1.52M).
Similar Nearby Businesses Who Received PPP Funding:
American Freigh Express Corp
SA Solutions Inc
Total Freight Transportation Inc
Stefan Sjk Inc
Kozak Transport Inc
TAT Carriers Inc
Svet Transportation Inc
Industry PPP Comparison Statistics
Nationwide, 116,089 businesses in the "General Freight Trucking, Long-Distance, Truckload" industry received a total of $4.64B 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 3 employees, 97% lower than Top-Ten Express, Corporation's reported 108 employees, and received an average PPP loan of $39,939, 97% lower than this company's loan of $1.52M.
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Footnotes & Information
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