1061 W MADISON, LLC (IL) - 2020 PPP Loan Borrower Profile (# 6023257010)

Updated on April 18, 2025.

See below the business details and the detail of the 2020 PPP loan given to 1061 W MADISON, LLC. The Paycheck Protection Program (PPP) loan was intended to provide incentives for small businesses to keep their workers on payroll.

You can see similar information for other borrowers in Illinois.

Loan Detail

Loan Number

6023257010

SBA Office Code

0507

Processing Method

PPP

Curent Loan Amount

$117,900

Date Loan was Approved

Apr 6, 2020

Amount Forgiven

$118,592.61

Date Loan was Forgiven

Feb 16, 2021

Loan Status

Paid in Full

Loan Term

24 Months

Utilities Proced

7,900

Payroll Proced

110,000

Lender

Lake Forest Bank & Trust Company, National Association

Business Detail

Business Type

Limited Liability Company(LLC)

NAICS

722511

Borrower Location

CHICAGO, IL

Project Location

CHICAGO, IL

Rural/Urban

Urban

Hubzone

Labor Market Information (LMI)

Jobs Reported

Business Age Description

New Business or 2 years or less

Data Source: SBA.