PPP Loan Data — Hayward Rigano, Attorney At Law, Longview, TX
Hayward Rigano, Attorney At Law is a self-employed individual located at 406 E Methvin St in Longview, Texas that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Texas Bank and Trust Company
Hayward Rigano, Attorney At Law in Longview, TX received a Paycheck Protection Loan of $25,000 through Texas Bank and Trust Company, 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 January, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.Read More
Understanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.Read More
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, Hayward Rigano, Attorney At Law's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hayward Rigano, Attorney At Law reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Hayward Rigano, Attorney At Law in Longview, TX
406 E Methvin St
Longview, TX 75601
Offices of Lawyers
NAICS code 541110
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Longview
In the Longview area, 74 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 2) and received an average PPP loan of $47,778 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Law Office Of Choy & Choy PLLC
Roscoe Daryll Bennett, Attorney At Law
The Law Office Of Bonnie Leggat
Jerrod Allen, PLLC
Bradley T. Steele PC
Sloan Law Firm, 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, 200% higher than Hayward Rigano, Attorney At Law's reported 2 employees, and received an average PPP loan of $81,518, 226% higher than this company's loan of $25,000.
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Footnotes & Information
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