Industrial Maintenance Welding & Machining Company at 1431 W. Pershing Road, Chicago, is listed as receiving the largest Paycheck Protection Program loan in the neighborhood at over $1 million, with 109 jobs retained.

Dozens of McKinley Park Businesses Receive Jumbo Federal Paycheck Protection Loans

Published July 8, 2020

Many enterprises in the McKinley Park neighborhood of Chicago and the adjacent Central Manufacturing District have applied for and received large government loans as part of the Paycheck Protection Program (PPP), a U.S. federal initiative to provide economic and labor support during the COVID-19 pandemic. Thirty local firms received loans ranging from $150,000 to over $1 million, which are forgivable if used to retain workers.

 
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The bulk of large, local PPP loans are directed to firms within the Planned Manufacturing Districts which comprise much of the outer borders of the McKinley Park neighborhood. Recipients include both well-known neighborhood businesses and many B2B-only firms.

According to the PPP data, which was released to the public on Monday, July 6, these loans will result in retention of over 1,000 jobs in the McKinley Park neighborhood and Central Manufacturing District. 

 
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The U.S. Small Business Administration (SBA) administers the $660 billion PPP initiative. Only recipients of loans over $150,000 were identified in released data, with local jumbo loan amounts listed as falling between $150,000 to $350,000, $350,000 to $1 million and $1 million to $2 million. 

Although the large loans in the PPP program account for nearly 75 percent of all program monies awarded nationwide, most of the 4.9 million loans in the PPP program are smaller — averaging around $100,000 — the SBA announced in a press release on its website. Specific information about recipients of PPP loans under $150,000 was not provided in the SBA's data release.

 
Click to stay top of mind in McKinley Park.

 
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List of Jumbo Paycheck Protection Program Loan Recipients in McKinley Park and the Central Manufacturing District:

 

Active Roofing Company, Inc.
 2100 W. 32nd St., Chicago
 www.activeroofing.com
 Loan Amount: $350,000-$1 million
 Lender: Byline Bank
 Date Received: April 6, 2020
 Jobs Retained: 60

Amberleaf Cabinetry Inc.
 1400 W. 37th St., Chicago
 www.amberleafcabinetry.com
 Loan Amount: $350,000-$1 million
 Lender: BMO Harris Bank National Association
 Date Received: April 28, 2020
 Jobs Retained: 

Amiberica Inc.
 3701 S. Ashland Ave., Chicago
 www.amiberica.net
 Loan Amount: $150,000-$350,000
 Lender: JPMorgan Chase Bank, National Association
 Date Received: May 1, 2020
 Jobs Retained: 25

Archer Damen Inc.
 3414 S. Archer Ave., Chicago
 At this location: Huck Finn Restaurant
 www.huckfinnrestaurant.com
 Loan Amount: $150,000-$350,000
 Lender: Heartland Bank and Trust Company
 Date Received: April 28, 2020
 Jobs Retained: 44

B.E.T.O.N. Construction Co.
 1415 W. 37th St., Chicago
 betonconstruction.com
 Loan Amount: $150,000-$350,000
 Lender: American Express National Bank
 Date Received: April 30, 2020
 Jobs Retained: 10

Beverly Asphalt Paving Co.
 1514 W. Pershing Road, Chicago
 facebook.com/BeverlyAsphalt
 Loan Amount: $150,000-$350,000
 Lender: Fifth Third Bank
 Date Received: May 3, 2020
 Jobs Retained: 24

Bridgewater Studio Inc.
 1719 W. 35th St., Chicago
 www.bridgewaterstudio.net 
 Loan Amount: $350,000-$1 million
 Lender: Fifth Third Bank
 Date Received: April 14, 2020
 Jobs Retained: 64

Chicago Indoor Sports, LLC
 3900 S. Ashland Ave., Chicago
 www.chicagoindoorsports.com
 Loan Amount: $150,000-$350,000
 Lender: BMO Harris Bank National Association
 Date Received: April 9, 2020
 Jobs Retained: 46

Chicago Treatment & Counseling Center, Inc.
 3520 S. Ashland Ave., Chicago
 chicagotreatment.com
 Loan Amount: $150,000-$350,000
 Lender: JPMorgan Chase Bank, National Association
 Date Received: May 1, 2020
 Jobs Retained: 23

Crystal Windows & Doors IL Corp.
 1300 W. 35th St., Chicago
 crystalwindows.com
 Loan Amount: $350,000-$1 million
 Lender: Citibank, N.A.
 Date Received: April 16, 2020
 Jobs Retained: 66

Economy Pallets Inc.
 1500 W. Pershing Road, Chicago
 Loan Amount: $150,000-$350,000
 Lender: Byline Bank
 Date Received: April 29, 2020
 Jobs Retained: 22

Efficient Trucking, Inc.
 3201 S. Hoyne Ave., Chicago
 Loan Amount: $350,000-$1 million
 Lender: CIBC Bank USA
 Date Received: April 10, 2020
 Jobs Retained: 75

GA Welcome, Inc.
 1511 W. 38th St., Chicago
 Loan Amount: $350,000-$1 million
 Lender: Northbrook Bank & Trust Company, National Association
 Date Received: April 5, 2020
 Jobs Retained: 45

Industrial Maintenance Welding & Machining Company, Inc.
 1431 W. Pershing Road, Chicago
 www.imwnet.com 
 Loan Amount: $1 million-$2 million
 Lender: CIBC Bank USA
 Date Received: April 8, 2020
 Jobs Retained: 109

La Bodega, LTD
 3225 S. Western Ave., Chicago
 www.labodegainc.com
 Loan Amount: $150,000-$350,000
 Lender: JPMorgan Chase Bank, National Association
 Date Received: April 8, 2020
 Jobs Retained: 31

 
Click to stay top of mind in McKinley Park.

 
Click to stay top of mind in McKinley Park.

Lake Shore Glass & Mirror Co., Inc.
 2150 W. 32nd St., Chicago
 Loan Amount: $350,000-$1 million
 Lender: Fifth Third Bank
 Date Received: April 14, 2020
 Jobs Retained: 30

Ma Rebar Services
 1415 W. 37th St., Suite 205 West, Chicago
 Loan Amount: $350,000-1 million
 Lender: Northeast Bank
 Date Received: April 29, 2020
 Jobs Retained: 30

Marz Community Brewing
 3630 S. Iron St., Chicago
 marz.beer
 Loan Amount: $150,000-$350,000
 Lender: American Community Bank & Trust
 Date Received: April 5, 2020
 Jobs Retained: 40

Master Paper Box Company, Inc.
 3641 S. Iron St., Chicago
 www.masterpaperbox.com
 Loan Amount: $350,000-$1 million
 Lender: Belmont Bank & Trust Company
 Date Received: April 7, 2020
 Jobs Retained: 49

MAT Asphalt, LLC
 2033 W. Pershing Road, Chicago
 matasphalt.com
 Loan Amount: $150,000-$350,000
 Lender: First Midwest Bank
 Date Received: 4/8/2020
 Jobs Retained: 7

MGM Excavating LLC
 3636 S. Iron St., Suite 346A, Chicago
 www.mgmexcavating.com
 Loan Amount: $350,000-$1 million
 Lender: First Midwest Bank
 Date Received: April 9, 2020
 Jobs Retained: 13

Namaste Charter School, Inc.
 3737 S. Paulina St., Chicago
 www.namastecharterschool.org
 Loan Amount: $350,000-$1 million
 Lender: Fifth Third Bank
 Date Received: May 3, 2020
 Jobs Retained: 68

Precise Personnel Services, Inc.
 3700 S. Iron St., Suite 461, Chicago
 Loan Amount: $350,000-$1 million
 Lender: Lakeside Bank
 Date Received: April 8, 2020
 Jobs Retained: 35

Productigear, Inc.
 1900 W. 34th St., Chicago
 Loan Amount: $350,000-$1 million
 Lender: JPMorgan Chase Bank, National Association
 Date Received: May 22, 2020
 Jobs Retained: 33

R-4 Services, LLC
 1301 W. 35th St., Chicago
 www.r4services.com
 Loan Amount: $350,000-$1 million
 Lender: Belmont Bank & Trust Company
 Date Received: April 7, 2020
 Jobs Retained: 31

See-All Industries, Inc.
 3623 S. Laflin Place, Chicago
 www.seeall.com 
 Loan Amount: $150,000-$350,000
 Lender: JPMorgan Chase Bank, National Association
 Date Received: May 1, 2020
 Jobs Retained: 14

T2 Cabinets Inc.
 1400 W. 37th St., Chicago
 www.t2cabinet.com
 Loan Amount: $150,000-$350,000
 Lender: Cathay Bank
 Date Received: April 28, 2020
 Jobs Retained: 55

Tulsa Power Service, Inc.
 3968 S. Ashland Ave., Chicago
 www.tulsapowerservice.com
 Loan Amount: $150,000-$350,000
 Lender: First Secure Bank and Trust Co.
 Date Received: April 28, 2020
 Jobs Retained: 18

Vanek Brothers Trucking Co Inc.
 3920 S. Loomis St., Chicago
 vanekbrotherstrucking.com
 Loan Amount: $150,000-$350,000
 Lender: Belmont Bank & Trust Company
 Date Received: April 13, 2020
 Jobs Retained: 22

York Construction & Management Services, LLC
 3333 S. Iron St., Suite B, Chicago
 Loan Amount: $350,000-$1 million
 Lender: Crystal Lake Bank & Trust Company, National Association
 Date Received: April 8, 2020
 Jobs Retained: 23


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