PPP Loan Data — Freed Maxick CPAS, PC, Buffalo, NY
Freed Maxick CPAS, PC is a subchapter s corporation located at 424 Main Street in Buffalo, New York that received a Coronavirus-related PPP loan from the SBA of $5,424,742.00 in April, 2020.
$ PPP Loan Information
Lender:MANUFACTURERS AND TRADERS TRUST COMPANY
Freed Maxick CPAS, PC received a Paycheck Protection Loan of $5.42M through MANUFACTURERS AND TRADERS TRUST COMPANY, which was approved in April, 2020.
Based on standard PPP eligibility rules, Freed Maxick CPAS, PC's total 2019 payroll expenses were approximately $26.04M in order to qualify for the PPP loan amount received.
Based on their reported 307 jobs retained, this equals an estimated average yearly compensation of $84,817 per employee1.
Business Information - Freed Maxick CPAS, PC in Buffalo, NY
424 Main Street
Buffalo, NY 14202
Offices of Certified Public Accountants (NAICS code 541211)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NY-26
Similar Companies near Buffalo
In the Buffalo area, 10 businesses in the "Offices of Certified Public Accountants" industry received a PPP loan. These local businesses reported an average of 45 employees (compared to this company's 307) and received an average PPP loan of $737,604 (compared to this company's $5.42M).
Similar Nearby Businesses Who Received PPP Funding:
Lucernoni, Schulz & Co, LLP
James P Moscato CPA
Ryan Knowles, LLC
Philip J Tantillo Certified Public Accountant PC
Dansa D'Arata Soucia LLP
Industry PPP Comparison Statistics
Nationwide, 37,661 businesses in the "Offices of Certified Public Accountants" industry received a total of $3,350,637,371.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 6 employees, 98% lower than Freed Maxick CPAS, PC's reported 307 employees, and received an average PPP loan of $88,968, 98% lower than this company's loan of $5.42M.
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.
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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