PPP Loan Data — Wagner Plumbing Supply, Inc, Wauconda, IL
Wagner Plumbing Supply, Inc
Entity: Subchapter S Corporation
Location: Wauconda, ILTweet This • Search All PPP Data
Wagner Plumbing Supply, Inc is a subchapter s corporation located at 416 W. Liberty St. in Wauconda, Illinois that received a Coronavirus-related PPP loan from the SBA of $45,894.00 in July, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Libertyville Bank & Trust Company, National Association
Wagner Plumbing Supply, Inc in Wauconda, IL received a Paycheck Protection Loan of $45,894 through Libertyville Bank & Trust Company, National Association, which was approved in July, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in May, 2021.
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, Wagner Plumbing Supply, Inc's 2019 payroll expenses are estimated to be at least $220,291.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $55,073 per employee1
Reported PPP Proceed Usage:
On the PPP application, Wagner Plumbing Supply, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $34,421
- Utilities: $574
- Rent: $10,900
Business Information - Wagner Plumbing Supply, Inc in Wauconda, IL
416 W. Liberty St.
Wauconda, IL 60084
Plumbing and Heating Equipment and Supplies (Hydronics) Merchant Wholesalers
NAICS code 423720
Business Owner Demographics
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Wauconda
In the Wauconda area, 5 businesses in the "Plumbing and Heating Equipment and Supplies (Hydronics) Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 4) and received an average PPP loan of $119,683 (compared to this company's $45,894).
Similar Nearby Businesses Who Received PPP Funding:
AA Thread Seal Tape, Inc
LCP Holdings LLC
Mid-American Water Of Wauconda, Inc
Industry PPP Comparison Statistics
Nationwide, 4,248 businesses in the "Plumbing and Heating Equipment and Supplies (Hydronics) Merchant Wholesalers" industry received a total of $720.86M 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 13 employees, 225% higher than Wagner Plumbing Supply, Inc's reported 4 employees, and received an average PPP loan of $169,693, 270% higher than this company's loan of $45,894.
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Footnotes & Information
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