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PPP Loan Data — Triangle Package Machinery Co., Chicago, IL

SBA PPP loan data, payroll data, and salaries for Triangle Package Machinery Co.
IL

Triangle Package Machinery Co.

Entity: Corporation

Industry: Packaging Machinery Manufacturing

Location: Chicago, IL

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Triangle Package Machinery Co. is a corporation located at 6655 W Diversey Ave in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $3,401,200.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.4M

Jobs Retained:

164

Loan Approved:

2020-04-08

Lender:

NORTHBROOK BANK & TRUST COMPANY, NATIONAL ASSOCIATION

Triangle Package Machinery Co. received a Paycheck Protection Loan of $3.4M through NORTHBROOK BANK & TRUST COMPANY, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Triangle Package Machinery Co.'s total 2019 payroll expenses were approximately $16.33M in order to qualify for the PPP loan amount received.

Based on their reported 164 jobs retained, this equals an estimated average yearly compensation of $99,547 per employee1.

Because the loan received by Triangle Package Machinery Co. 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 - Triangle Package Machinery Co. in Chicago, IL

Triangle Package Machinery Co.
6655 W Diversey Ave
Chicago, IL 60707

Business Industry

Packaging Machinery Manufacturing (NAICS code 333993)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IL-05

Industry PPP Comparison Statistics

Nationwide, 364 businesses in the "Packaging Machinery Manufacturing" industry received a total of $135,955,911.00 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 23 employees, 86% lower than Triangle Package Machinery Co.'s reported 164 employees, and received an average PPP loan of $373,505, 89% lower than this company's loan of $3.4M.

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.

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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/triangle-package-machinery-co-chicago-il