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PPP Loan Data — Gibbons PC,
Newark, NJ
Gibbons PC
Entity: Corporation
Industry: Offices of Lawyers
Location: Newark, NJ
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Gibbons PC is a corporation located at One Gateway Center in Newark, New Jersey that received a Coronavirus-related PPP loan from the SBA of $6,666,667.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
320Loan Approved:
2020-04-10Lender:
JPMORGAN CHASE BANK, NATIONAL ASSOCIATIONGibbons PC in Newark, NJ received a Paycheck Protection Loan of $6.67M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Gibbons PC's total 2019 payroll expenses were approximately $32M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Based on their reported 320 jobs retained, this equals an estimated average yearly compensation of $100,000 (not accounting for salary amounts > $100k) per employee1.
Business Information - Gibbons PC in Newark, NJ
One Gateway Center
Newark, NJ 07102
Business Industry
Offices of Lawyers (NAICS code 541110)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: NJ-10Similar Companies near Newark
In the Newark area, 73 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 14 employees (compared to this company's 320) and received an average PPP loan of $362,863 (compared to this company's $6.67M).
Similar Nearby Businesses Who Received PPP Funding:
Robert J Degroot, ESQ
Newark, NJ
Rodriguez Law Firm LLC
Newark, NJ
Regis Fernandez ESQ
Newark, NJ
Sills Cummis & Gross PC
Newark, NJ
Law Office Of Dwight H Simon Day LLC
Newark, NJ
Cobos & Associates LLC
Newark, NJ
Law Office Of Husain A. Gatlin
Newark, NJ
Alan Berliner, ESQ
Newark, NJ
Jasinski, PC
Newark, NJ
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 Gibbons PC's reported 320 employees, and received an average PPP loan of $94,010, 99% lower than this company's loan of $6.67M.
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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