PPP Loan Data — Babst Calland Clements & Zomnir, PC, Pittsburgh, PA

Babst Calland Clements & Zomnir, PC is a corporation located at 603 Stanwix St in Pittsburgh, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $5,439,600.00 in April, 2020.

$ PPP Loan Information

Loan #8852787001

Babst Calland Clements & Zomnir, PC in Pittsburgh, PA received a Paycheck Protection Loan of $5.44M through PNC Bank, National Association, which was approved in April, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in July, 2021.

The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 223 jobs reported as retained on the PPP application³. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.

The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 261. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Based 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, Babst Calland Clements & Zomnir, PC's 2019 payroll expenses are estimated to be at least $26.11M (not accounting for salary amounts > $100k).

Because the 223 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.

Reported PPP Proceed Usage:

On the PPP application, Babst Calland Clements & Zomnir, PC reported intending to use the proceeds of their PPP loan for the following expenses:

• Payroll: $5,439,600

Business Information - Babst Calland Clements & Zomnir, PC in Pittsburgh, PA

Similar Companies near Pittsburgh

In the Pittsburgh area, 122 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 22 employees (compared to this company's 223) and received an average PPP loan of $407,281 (compared to this company's $5.44M).

Industry PPP Comparison Statistics

Nationwide, 200,499 businesses in the "Offices of Lawyers" industry received a total of $16.37B 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, 97% lower than Babst Calland Clements & Zomnir, PC's reported 223 employees, and received an average PPP loan of $81,664, 98% lower than this company's loan of $5.44M.