PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Connell Foley LLP, Roseland, NJ

SBA PPP loan data, payroll data, and salaries for Connell Foley LLP
NJ

Connell Foley LLP

Entity: Partnership

Industry: Offices of Lawyers

Location: Roseland, NJ

Search All PPP Data

Connell Foley LLP is a partnership located at 56 Livingston Avenue in Roseland, New Jersey that received a Coronavirus-related PPP loan from the SBA of $5,040,400.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$5.04M

Jobs Retained:

253

Loan Approved:

2020-04-09

Lender:

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION

Connell Foley LLP in Roseland, NJ received a Paycheck Protection Loan of $5.04M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Connell Foley LLP's total 2019 payroll expenses were approximately $24.19M in order to qualify for the PPP loan amount received.

Based on their reported 253 jobs retained, this equals an estimated average yearly compensation of $95,628 per employee1.

Because the loan received by Connell Foley 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 - Connell Foley LLP in Roseland, NJ

Connell Foley LLP
56 Livingston Avenue
Roseland, NJ 07068

Business Industry

Offices of Lawyers (NAICS code 541110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NJ-11

Similar Companies near Roseland

In the Roseland area, 40 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 253) and received an average PPP loan of $555,531 (compared to this company's $5.04M).

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, 98% lower than Connell Foley LLP's reported 253 employees, and received an average PPP loan of $94,010, 98% lower than this company's loan of $5.04M.

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.

Search FederalPay's Full PPP Loan Database

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.


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

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/connell-foley-llp-roseland-nj