PPP Loan Data — H Woodrow Crook, A Professional Corporation, Smithfield, VA
H Woodrow Crook, A Professional Corporation is a sole proprietorship located at 229 Main Street in Smithfield, Virginia that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
H Woodrow Crook, A Professional Corporation in Smithfield, VA received a Paycheck Protection Loan of $25,000 through Farmers 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 February, 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, H Woodrow Crook, A Professional Corporation's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, H Woodrow Crook, A Professional Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - H Woodrow Crook, A Professional Corporation in Smithfield, VA
229 Main Street
Smithfield, VA 23430
Offices of Lawyers
NAICS code 541110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Smithfield
In the Smithfield area, 4 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 5) and received an average PPP loan of $35,025 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
H Woodrow Crook
Barlow * Riddick, PC
Archer L Jones, II PC
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, 20% higher than H Woodrow Crook, A Professional Corporation's reported 5 employees, and received an average PPP loan of $81,518, 226% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
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