PPP Loan Data — Gould & Ratner LLP, Chicago, IL
Gould & Ratner LLP is a limited liability partnership located at 222 N. Lasalle St. Suite 300 in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $1,938,907.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 95 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First American Bank
Gould & Ratner LLP in Chicago, IL received a Paycheck Protection Loan of $1.94M through First American Bank, which was approved in April, 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 April, 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, Gould & Ratner LLP's 2019 payroll expenses are estimated to be at least $9.31M.
Based on their reported 95 jobs retained, this equals an estimated average yearly compensation of $97,966 per employee1
Reported PPP Proceed Usage:
On the PPP application, Gould & Ratner LLP reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,938,907
Business Information - Gould & Ratner LLP in Chicago, IL
222 N. Lasalle St. Suite 300
Chicago, IL 60601
Offices of Lawyers
NAICS code 541110
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 1,196 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 95) and received an average PPP loan of $124,000 (compared to this company's $1.94M).
Similar Nearby Businesses Who Received PPP Funding:
The Law Offices Of Marc J. Lane
Morgan Law Firm, LTD
Ford & Britton, PC
Attorney Law Offices Of David A Carrabotta
Getech Law LLC
The Law Offices Of Vasili Economopoulos, PC
Regas Frezados & Dallas LLP
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, 94% lower than Gould & Ratner LLP's reported 95 employees, and received an average PPP loan of $81,518, 96% lower than this company's loan of $1.94M.
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Footnotes & Information
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