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PPP Loan Data — Forrest Law Firm, PC,
New Bern, NC
Forrest Law Firm, PC
Entity: Corporation
Industry: Offices of Lawyers
Location: New Bern, NC
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Forrest Law Firm, PC is a corporation located at 1315 S. Glenburnie Road in New Bern, North Carolina that received a Coronavirus-related PPP loan from the SBA of $20,300.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
0 UnreportedLoan Approved:
2020-04-29Lender:
TRUIST BANK D/B/A BRANCH BANKING & TRUST COForrest Law Firm, PC received a Paycheck Protection Loan of $20,300 through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 0.
Based on standard PPP eligibility rules, Forrest Law Firm, PC's total 2019 payroll expenses were approximately $97,440 in order to qualify for the PPP loan amount received.
Unlike most businesses, Forrest Law Firm, PC's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.
Business Information - Forrest Law Firm, PC in New Bern, NC
1315 S. Glenburnie Road
New Bern, NC 28562
Business Industry
Offices of Lawyers (NAICS code 541110)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: NC-03Similar Companies near New Bern
In the New Bern area, 11 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 23 employees (compared to this company's 0) and received an average PPP loan of $363,336 (compared to this company's $20,300).
Similar Nearby Businesses Who Received PPP Funding:
Ward & Smith PA
New Bern, NC
Thomas A Kellis II PLLC
New Bern, NC
Steven N Long PC
New Bern, NC
J Michael Mills Attorney At Law
New Bern, NC
Steven K Bell Attorney At Law PC
Trent Woods, NC
The E A Wood Law Firm, PLLC
New Bern, NC
Michelle K. Jerome, Attorney At Law
New Bern, NC
Ernest Richardson
Trent Woods, NC
Ayers & Haidt, PA
New Bern, NC
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, and received an average PPP loan of $94,010, 363% higher than this company's loan of $20,300.
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.
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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