PPP Loan Data — Connell Foley LLP, Roseland, NJ
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
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.
Business Information - Connell Foley LLP in Roseland, NJ
56 Livingston Avenue
Roseland, NJ 07068
Offices of Lawyers (NAICS code 541110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional 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).
Similar Nearby Businesses Who Received PPP Funding:
Mandelbaum Salsburg PC
Kitsopoulos Law Firm PC
Mcmanimon, Scotland & Baumann, LLC
Curcio Mirzaian Sirot LLC
Resnick Law Group PC
Post Polak PA
Skolnick Legal Group PC
Sisselman & Schwartz, LLP
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.
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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