PPP Loan Data — Utilitra, Inc, Edwardsville, IL
Utilitra, Inc is a subchapter s corporation located at 200 Lakefront Parkway in Edwardsville, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,213,900.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Mid Bank & Trust, National Association
Utilitra, Inc in Edwardsville, IL received a Paycheck Protection Loan of $2.21M through First Mid Bank & Trust, National Association, which was approved in April, 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, Utilitra, Inc's 2019 payroll expenses are estimated to be at least $10.63M.
Based on their reported 146 jobs retained, this equals an estimated average yearly compensation of $72,786 per employee1
Reported PPP Proceed Usage:
On the PPP application, Utilitra, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,660,425
- Utilities: $276,738
- Mortgage Interest: $276,738
Business Information - Utilitra, Inc in Edwardsville, IL
200 Lakefront Parkway
Edwardsville, IL 62025
Other Management Consulting Services
NAICS code 541618
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Edwardsville
In the Edwardsville area, 6 businesses in the "Other Management Consulting Services" industry received a PPP loan. These local businesses reported an average of 25 employees (compared to this company's 146) and received an average PPP loan of $378,248 (compared to this company's $2.21M).
Similar Nearby Businesses Who Received PPP Funding:
Grasshopper Lawn & Landscape - Gaa4410
Douglas Bruce Wojcieszak
DB Consulting LLC
Losch Enterprises LLC
Prodigal Resolutions LLC
Industry PPP Comparison Statistics
Nationwide, 84,014 businesses in the "Other Management Consulting Services" industry received a total of $3.74B 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 4 employees, 97% lower than Utilitra, Inc's reported 146 employees, and received an average PPP loan of $44,524, 98% lower than this company's loan of $2.21M.
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Footnotes & Information
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