PPP Loan Data — Gurstel Law Firm, PC, Golden Valley, MN
Gurstel Law Firm, PC is a corporation located at 6681 Country Club Drive in Golden Valley, Minnesota that received a Coronavirus-related PPP loan from the SBA of $2,813,000.00 in April, 2020.
$ PPP Loan Information
Gurstel Law Firm, PC received a Paycheck Protection Loan of $2.81M through DEERWOOD BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Gurstel Law Firm, PC's total 2019 payroll expenses were approximately $13.5M in order to qualify for the PPP loan amount received.
Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $54,010 per employee1.
Business Information - Gurstel Law Firm, PC in Golden Valley, MN
6681 Country Club Drive
Golden Valley, MN 55427
Offices of Lawyers (NAICS code 541110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MN-05
Similar Companies near Golden Valley
In the Golden Valley area, 30 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 15 employees (compared to this company's 250) and received an average PPP loan of $203,242 (compared to this company's $2.81M).
Similar Nearby Businesses Who Received PPP Funding:
Kyle Bailey, Inc.
Golden Valley, MN
Thomas E Bauer LTD
Robinson Duffy, PLLC
Richard D Bunin Law Offices
St Louis Park, MN
Law Offices Of Howard Sussman, PA
Virtus Law PLLC
Conlin Law Firm LLC
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 Gurstel Law Firm, PC's reported 250 employees, and received an average PPP loan of $94,010, 97% lower than this company's loan of $2.81M.
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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