PPP Loan Data — Hall Prangle And Schoonveld LLC, Chicago, IL
Hall Prangle And Schoonveld LLC is a subchapter s corporation located at 200 S Wacker Dr Ste 3300 in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Allied First Bank
Hall Prangle And Schoonveld LLC in Chicago, IL received a Paycheck Protection Loan of $2M through Allied First Bank, which was approved in January, 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, Hall Prangle And Schoonveld LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 140 jobs retained, this equals an estimated average yearly compensation of $68,571 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hall Prangle And Schoonveld LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,997
- Utilities: $1
Business Information - Hall Prangle And Schoonveld LLC in Chicago, IL
200 S Wacker Dr Ste 3300
Chicago, IL 60606
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: Urban
Similar Companies near Chicago
In the Chicago area, 586 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 16 employees (compared to this company's 140) and received an average PPP loan of $246,634 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Cook Alex LTD
HP3 Law LLC
FMS Law Group LLC
The Cortese Law Offices PC
Lasko Legal Services, LTD
O'malley & Madden, PC
Chilton Yambert Porter LLP
Law Office Of Steven A. Sigmond PC
Morgan & Bley, LTD
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, 96% lower than Hall Prangle And Schoonveld LLC's reported 140 employees, and received an average PPP loan of $81,518, 96% lower than this company's loan of $2M.
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Footnotes & Information
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