PPP Loan Data — Hahn Loeser & Parks LLP, Cleveland, OH
Hahn Loeser & Parks LLP is a limited liability partnership located at 200 Public Square, Ste 2800 in Cleveland, Ohio that received a Coronavirus-related PPP loan from the SBA of $4,901,629.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 190 people during the applicable loan loan period.
$ PPP Loan Information
Lender:FINEMARK NATIONAL BANK & TRUST
Hahn Loeser & Parks LLP received a Paycheck Protection Loan of $4.9M through FINEMARK NATIONAL BANK & TRUST, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 190 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 235.
Based on standard PPP eligibility rules, Hahn Loeser & Parks LLP's total 2019 payroll expenses were approximately $23.53M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 190 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Hahn Loeser & Parks LLP in Cleveland, OH
200 Public Square, Ste 2800
Cleveland, OH 44114
Legal Counsel and Prosecution (NAICS code 922130)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: OH-11
Similar Companies near Cleveland
In the Cleveland area, 10 businesses in the "Legal Counsel and Prosecution" industry received a PPP loan. These local businesses reported an average of 21 employees (compared to this company's 190) and received an average PPP loan of $529,684 (compared to this company's $4.9M).
Similar Nearby Businesses Who Received PPP Funding:
Grant A Goodman
The Eisen Law Firm
Law Office Of Samuel R Smith II
Sidoti Co Lpa
Raslanpla Company, LLC
Donald G. Riemer Atty-At-Law
Miller, Stillman & Bartel, LLC
Industry PPP Comparison Statistics
Nationwide, 4,522 businesses in the "Legal Counsel and Prosecution" industry received a total of $346,914,341.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, 97% lower than Hahn Loeser & Parks LLP's reported 190 employees, and received an average PPP loan of $76,717, 98% lower than this company's loan of $4.9M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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