PPP Loan Data — Famulary LLC, Salem, OR
Famulary LLC is a subchapter s corporation located at 3040 Commercial St Se in Salem, Oregon that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:U.S. Bank, National Association
Famulary LLC in Salem, OR received a Paycheck Protection Loan of $25,000 through U.S. Bank, National Association, which was approved in May, 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 January, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Famulary LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Famulary LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Famulary LLC in Salem, OR
3040 Commercial St Se
Salem, OR 97302
Offices of Lawyers
NAICS code 541110
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Salem
In the Salem area, 154 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 2) and received an average PPP loan of $64,927 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Knapp Davis Chartrey LLC
William D Brandt
Fetherston Matheny, LLC
S. Delaney Hanlon, PC
Richard L Cowan Attorney At Law
Collier Palmblad Law Group LLC
Wallace Law Firm
Rietmann Law PC
Industry PPP Comparison Statistics
Nationwide, 200,895 businesses in the "Offices of Lawyers" industry received a total of $16.38B 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, 200% higher than Famulary LLC's reported 2 employees, and received an average PPP loan of $81,518, 226% higher than this company's loan of $25,000.
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Footnotes & Information
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