PPP Loan Data — United Scrap Metal Holdings, Inc., Chicago, IL
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
Lender:CIBC BANK USA
United 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
Recyclable Material Merchant Wholesalers (NAICS code 423930)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: IL-04
Similar 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
Recycling Services Of Florida, Inc.
Bridgeport Scrap Metal LLC
Independent Recycling Services, Inc.
Loop Paper Recycling, Inc.
Corporate Coverage Company
Midwest Paper Retriever, LLC
Barry's Metal, LTD
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.
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Footnotes & Information
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