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PPP Loan Data — Amoroso And Associates PC,
New York, NY
Amoroso And Associates PC
Entity: Corporation
Industry: Offices of Lawyers
Location: New York, NY
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Amoroso And Associates PC is a corporation located at 43 W 43rd St Ste 64 in New York, New York that received a Coronavirus-related PPP loan from the SBA of $30,975.00 in March, 2021.
The company has reported itself as a male owned business, and employed at least three people during the applicable loan loan period.
$
PPP Loan Information
Loan #6807178505
Loan Size:
Jobs Retained:
3Loan Approved:
2021-03-04Loan Status:
Ongoing LoanLender:
TD Bank, National AssociationAmoroso And Associates PC in New York, NY received a Paycheck Protection Loan of $30,975 through TD Bank, National Association, which was approved in March, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Amoroso And Associates PC's 2019 payroll expenses are estimated to be at least $148,680.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $49,560 per employee1
Reported PPP Proceed Usage:
On the PPP application, Amoroso And Associates PC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $30,971
- Utilities: $1
Business Information - Amoroso And Associates PC in New York, NY
43 W 43rd St Ste 64
New York, NY 10036
Business Industry:
Offices of Lawyers
NAICS code 541110
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near New York
In the New York area, 193 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 3) and received an average PPP loan of $195,611 (compared to this company's $30,975).
Similar Nearby Businesses Who Received PPP Funding:
Medilex Inc
New York, NY
Tenzer And Lunin LLP
New York, NY
Berkshire Executives
New York, NY
Brian M. Delaurentis PC
New York, NY
Cyrus Joubin
New York, NY
JIN Cao
New York, NY
Marianna Moliver
New York, NY
Kheyfits Belenky LLP
New York, NY
German Rubenstein LLP
New York, NY
Industry PPP Comparison Statistics
Nationwide, 200,507 businesses in the "Offices of Lawyers" industry received a total of $16.38B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 6 employees, 100% higher than Amoroso And Associates PC's reported 3 employees, and received an average PPP loan of $81,669, 164% higher than this company's loan of $30,975.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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