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PPP Loan Data — Berman & Simmons, PA,
Lewiston, ME
Berman & Simmons, PA
Entity: Corporation
Industry: Offices of Lawyers
Location: Lewiston, ME
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Berman & Simmons, PA is a corporation located at 129 Lisbon St in Lewiston, Maine that received a Coronavirus-related PPP loan from the SBA of $1,077,200.00 in April, 2020.
The company has reported itself as a female owned business, and employed at least 62 people during the applicable loan loan period.
$ PPP Loan Information
Loan Size:
Jobs Retained:
62Loan Approved:
2020-04-06Lender:
ANDROSCOGGIN SAVINGS BANKBerman & Simmons, PA in Lewiston, ME received a Paycheck Protection Loan of $1.08M through ANDROSCOGGIN SAVINGS BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Berman & Simmons, PA's total 2019 payroll expenses were approximately $5.17M in order to qualify for the PPP loan amount received.
Based on their reported 62 jobs retained, this equals an estimated average yearly compensation of $83,396 per employee1.
Business Information - Berman & Simmons, PA in Lewiston, ME
129 Lisbon St
Lewiston, ME 04240
Business Industry
Offices of Lawyers (NAICS code 541110)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: FEMALE OWNED
Veteran Status: Unreported
Congressional District: ME-02Similar Companies near Lewiston
In the Lewiston area, 21 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 62) and received an average PPP loan of $124,071 (compared to this company's $1.08M).
Similar Nearby Businesses Who Received PPP Funding:
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Industry PPP Comparison Statistics
Nationwide, 126,779 businesses in the "Offices of Lawyers" industry received a total of $11,918,471,350.00 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, 90% lower than Berman & Simmons, PA's reported 62 employees, and received an average PPP loan of $94,010, 91% lower than this company's loan of $1.08M.
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, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. 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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