PPP Loan Data — Butzel Long, A Professional Corporation, Detroit, MI
Butzel Long, A Professional Corporation is a corporation located at 150 W. Jefferson Ste: 100 in Detroit, Michigan that received a Coronavirus-related PPP loan from the SBA of $3,996,000.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 209 people during the applicable loan loan period.
$ PPP Loan Information
Lender:THE HUNTINGTON NATIONAL BANK
Butzel Long, A Professional Corporation in Detroit, MI received a Paycheck Protection Loan of $4M through THE HUNTINGTON NATIONAL BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Butzel Long, A Professional Corporation's total 2019 payroll expenses were approximately $19.18M in order to qualify for the PPP loan amount received.
Based on their reported 209 jobs retained, this equals an estimated average yearly compensation of $91,774 per employee1.
Business Information - Butzel Long, A Professional Corporation in Detroit, MI
150 W. Jefferson Ste: 100
Detroit, MI 48226
Offices of Lawyers (NAICS code 541110)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: MI-13
Similar Companies near Detroit
In the Detroit area, 63 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 26 employees (compared to this company's 209) and received an average PPP loan of $547,088 (compared to this company's $4M).
Similar Nearby Businesses Who Received PPP Funding:
Law Offices Of David S Steingold PLLC
Perkins Law Group, PLLC
Stephen A Thomas Plc
The Bieri Co
Skupin & Lucas, PC
Johnson Law, Plc
George A Surowy, PC
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, 97% lower than Butzel Long, A Professional Corporation's reported 209 employees, and received an average PPP loan of $94,010, 98% lower than this company's loan of $4M.
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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