PPP Loan Data — Treasure Service Inc, Chicago, IL
Treasure Service Inc is a corporation located at 1140 N Wells St Unit 2207 in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Treasure Service Inc in Chicago, IL received a Paycheck Protection Loan of $25,000 through Bank of America, 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, Treasure Service Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Treasure Service Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Treasure Service Inc in Chicago, IL
1140 N Wells St Unit 2207
Chicago, IL 60610
Office Administrative Services
NAICS code 561110
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 18 businesses in the "Office Administrative Services" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 3) and received an average PPP loan of $67,290 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Torg Management LLC
Integrated Land Management, Inc
Blue Clear LLC
Merrett Davies International LLC
Industry PPP Comparison Statistics
Nationwide, 44,947 businesses in the "Office Administrative Services" industry received a total of $2.36B 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 6 employees, 100% higher than Treasure Service Inc's reported 3 employees, and received an average PPP loan of $52,468, 110% higher than this company's loan of $25,000.
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