ANTARCTIC MECHANICAL SERVICES, INC.
PPP Loan approved Apr 27, 2020 through Wheaton Bank & Trust Company, National Association
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $7,500,000.00 | 75.0% |
| Utilities | $1,000,000.00 | 10.0% |
| Rent / Lease | $1,500,000.00 | 15.0% |
About This Loan
ANTARCTIC MECHANICAL SERVICES, INC. received a PPP loan of $10,000,000 approved on Apr 27, 2020. The loan was originated by Wheaton Bank & Trust Company, National Association.
ANTARCTIC MECHANICAL SERVICES, INC. is a subchapter s corporation located in WOODRIDGE, Illinois. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Building Equipment Contractors industry (NAICS 238220), part of the Construction sector of the economy. The applicant reported 498 jobs as retained through this loan.
The SBA forgave $10,116,666.67 of this loan — 101.2% of the total approved amount, with forgiveness recorded on Jun 25, 2021. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.
According to the SBA's records, the proceeds of this loan were allocated as follows: $7,500,000 to payroll, $1,000,000 to utilities, $1,500,000 to rent or lease obligations. The payroll component represents 75.0% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in Illinois, visit the Illinois page. To compare this loan with others in the same industry, see the Building Equipment Contractors industry page.