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.
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.
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
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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