PPP Loan Data — Butler Snow, LLP, Ridgeland, MS

Butler Snow, LLP

Entity: Limited Liability Partnership

Industry: Offices of Lawyers

Location: Ridgeland, MS

Butler Snow, LLP is a limited liability partnership located at 1020 Highland Colony Pkwy in Ridgeland, Mississippi that received a Coronavirus-related PPP loan from the SBA of $8,638,800.00 in April, 2020.

$ PPP Loan Information
Loan #8685327005

Loan Size:

$8.64M

Jobs Retained:

486

Loan Approved:

2020-04-08

Loan Status:

Paid in Full or Forgiven

Lender:

Regions Bank

Butler Snow, LLP in Ridgeland, MS received a Paycheck Protection Loan of $8.64M through Regions Bank, 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 September, 2021.

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.

Understanding 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.

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, Butler Snow, LLP's 2019 payroll expenses are estimated to be at least $41.47M.

Based on their reported 486 jobs retained, this equals an estimated average yearly compensation of $85,321 per employee¹

Reported PPP Proceed Usage:

On the PPP application, Butler Snow, LLP reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $8,638,800

Because the loan received by Butler Snow, LLP is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Butler Snow, LLP in Ridgeland, MS

Butler Snow, LLP
1020 Highland Colony Pkwy
Ridgeland, MS 39157

Business Industry:
Offices of Lawyers
NAICS code 541110

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Madison County, MS — SBA Office 0470 — Congressional District: MS-03

Similar Companies near Ridgeland

In the Ridgeland area, 130 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 486) and received an average PPP loan of $132,812 (compared to this company's $8.64M).

Similar Nearby Businesses Who Received PPP Funding:

Carroll Bufkin PLLC
Ridgeland, MS

$44,641 PPP Loan

William B Mckinley
Ridgeland, MS

$2,945 PPP Loan

ABY LLC
Ridgeland, MS

$20,800 PPP Loan

Smith & Mcarty PLLC
Ridgeland, MS

$64,103 PPP Loan

Hancock Law Firm PLLC
Ridgeland, MS

$17,116 PPP Loan

Adock And Morrison
Ridgeland, MS

$111,424 PPP Loan

Young Wells Williams PA
Ridgeland, MS

$371,600 PPP Loan

Law Office Of Michael Moore, PLLC
Ridgeland, MS

$21,300 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 200,380 businesses in the "Offices of Lawyers" industry received a total of $16.35B 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, 99% lower than Butler Snow, LLP's reported 486 employees, and received an average PPP loan of $81,591, 99% lower than this company's loan of $8.64M.

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.

Search FederalPay's Full PPP Loan Database

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.

Have FederalPay.org's open data tools been valuable? Consider donating!