PPP Loan Data — Xcel Staffing Solutions LLC, Waukegan, IL
Xcel Staffing Solutions LLC is a limited liability company (LLC) located at 1541 S Waukegan Rd in Waukegan, Illinois that received a Coronavirus-related PPP loan from the SBA of $8,964,172.00 in April, 2020.
$ PPP Loan Information
Lender:LAKE FOREST BANK & TRUST COMPANY, NATIONAL ASSOCIATION
Xcel Staffing Solutions LLC in Waukegan, IL received a Paycheck Protection Loan of $8.96M through LAKE FOREST BANK & TRUST COMPANY, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Xcel Staffing Solutions LLC's total 2019 payroll expenses were approximately $43.03M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $86,056 per employee1.
Business Information - Xcel Staffing Solutions LLC in Waukegan, IL
1541 S Waukegan Rd
Waukegan, IL 60085
Employment Placement Agencies (NAICS code 561311)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: IL-10
Similar Companies near Waukegan
In the Waukegan area, 4 businesses in the "Employment Placement Agencies" industry received a PPP loan. These local businesses reported an average of 248 employees (compared to this company's 500) and received an average PPP loan of $3,121,421 (compared to this company's $8.96M).
Similar Nearby Businesses Who Received PPP Funding:
LT Staffing Inc.
Anne Joyce, Inc.
Quality Labor Service, LLC
Industry PPP Comparison Statistics
Nationwide, 7,294 businesses in the "Employment Placement Agencies" industry received a total of $2,648,453,106.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 38 employees, 92% lower than Xcel Staffing Solutions LLC's reported 500 employees, and received an average PPP loan of $363,100, 96% lower than this company's loan of $8.96M.
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Footnotes & Information
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