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PPP Loan Data — United Scrap Metal Holdings, Inc.,
Chicago, IL
United Scrap Metal Holdings, Inc.
Entity: Subchapter S Corporation
Industry: Recyclable Material Merchant Wholesalers
Location: Chicago, IL
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United Scrap Metal Holdings, Inc. is a subchapter s corporation located at 1545 South Cicero Ave in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $5,422,900.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
478Loan Approved:
2020-04-10Lender:
CIBC BANK USAUnited Scrap Metal Holdings, Inc. in Chicago, IL received a Paycheck Protection Loan of $5.42M through CIBC BANK USA, which was approved in April, 2020.
Based on standard PPP eligibility rules, United Scrap Metal Holdings, Inc.'s total 2019 payroll expenses were approximately $26.03M in order to qualify for the PPP loan amount received.
Based on their reported 478 jobs retained, this equals an estimated average yearly compensation of $54,456 per employee1.
Business Information - United Scrap Metal Holdings, Inc. in Chicago, IL
1545 South Cicero Ave
Chicago, IL 60608
Business Industry
Recyclable Material Merchant Wholesalers (NAICS code 423930)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: IL-04Similar Companies near Chicago
In the Chicago area, 10 businesses in the "Recyclable Material Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 69 employees (compared to this company's 478) and received an average PPP loan of $826,467 (compared to this company's $5.42M).
Similar Nearby Businesses Who Received PPP Funding:
Bright General Construction Corp
Chicago, IL
Recycling Services Of Florida, Inc.
Chicago, IL
Bridgeport Scrap Metal LLC
Chicago, IL
Independent Recycling Services, Inc.
Chicago, IL
Loop Paper Recycling, Inc.
Chicago, IL
Corporate Coverage Company
Chicago, IL
Midwest Paper Retriever, LLC
Chicago, IL
Barry's Metal, LTD
Chicago, IL
Industry PPP Comparison Statistics
Nationwide, 4,300 businesses in the "Recyclable Material Merchant Wholesalers" industry received a total of $657,310,017.00 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 14 employees, 97% lower than United Scrap Metal Holdings, Inc.'s reported 478 employees, and received an average PPP loan of $152,863, 97% lower than this company's loan of $5.42M.
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, and is published unmodified, as provided by the SBA.
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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