PPP Loan Data — Vincenzo's Decorating, Inc, Chigago, IL
Vincenzo's Decorating, Inc is a corporation located at 3659 N Nottingham Ave in Chigago, Illinois that received a Coronavirus-related PPP loan from the SBA of $46,250.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Fifth Third Bank
Vincenzo's Decorating, Inc in Chigago, IL received a Paycheck Protection Loan of $46,250 through Fifth Third Bank, 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, Vincenzo's Decorating, Inc's 2019 payroll expenses are estimated to be at least $222,000.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $55,500 per employee1
Reported PPP Proceed Usage:
On the PPP application, Vincenzo's Decorating, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,250
Business Information - Vincenzo's Decorating, Inc in Chigago, IL
3659 N Nottingham Ave
Chigago, IL 60634
Interior Design Services
NAICS code 541410
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Chigago
In the Chigago area, 15 businesses in the "Interior Design Services" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 4) and received an average PPP loan of $29,627 (compared to this company's $46,250).
Similar Nearby Businesses Who Received PPP Funding:
Simonds Design Inc
Marie Antonette Designs LLC
Vincenzo's Decorating Inc
Regina's Drapery Studio, LTD
Industry PPP Comparison Statistics
Nationwide, 29,847 businesses in the "Interior Design Services" industry received a total of $1.03B 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 3 employees, 25% lower than Vincenzo's Decorating, Inc's reported 4 employees, and received an average PPP loan of $34,371, 26% lower than this company's loan of $46,250.
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Footnotes & Information
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