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PPP Loan Data — United Conveyor Corporation, Waukegan, IL

SBA PPP loan data, payroll data, and salaries for United Conveyor Corporation
IL

United Conveyor Corporation

Entity: Subchapter S Corporation

Industry: Conveyor and Conveying Equipment Manufacturing

Location: Waukegan, IL

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United Conveyor Corporation is a subchapter s corporation located at 2100 Norman Drive West in Waukegan, Illinois that received a Coronavirus-related PPP loan from the SBA of $3,845,092.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.85M

Jobs Retained:

189

Loan Approved:

2020-04-08

Lender:

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION

United Conveyor Corporation received a Paycheck Protection Loan of $3.85M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, United Conveyor Corporation's total 2019 payroll expenses were approximately $18.46M in order to qualify for the PPP loan amount received.

Based on their reported 189 jobs retained, this equals an estimated average yearly compensation of $97,653 per employee1.

Because the loan received by United Conveyor Corporation 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 - United Conveyor Corporation in Waukegan, IL

United Conveyor Corporation
2100 Norman Drive West
Waukegan, IL 60085

Business Industry

Conveyor and Conveying Equipment Manufacturing (NAICS code 333922)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IL-10

Industry PPP Comparison Statistics

Nationwide, 409 businesses in the "Conveyor and Conveying Equipment Manufacturing" industry received a total of $209,433,358.00 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 30 employees, 84% lower than United Conveyor Corporation's reported 189 employees, and received an average PPP loan of $512,062, 87% lower than this company's loan of $3.85M.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/united-conveyor-corporation-waukegan-il