PPP Loan Data — Jeffrey Erhart, PC, Phoenix, AZ
Jeffrey Erhart, PC is a sole proprietorship located at 6245 N. 24th Parkway in Phoenix, Arizona that received a Coronavirus-related PPP loan from the SBA of $24,896.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Jeffrey Erhart, PC in Phoenix, AZ received a Paycheck Protection Loan of $24,896 through Bank of America, National Association, 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 April, 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, Jeffrey Erhart, PC's 2019 payroll expenses are estimated to be at least $119,501.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $39,834 per employee1
Reported PPP Proceed Usage:
On the PPP application, Jeffrey Erhart, PC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,896
Business Information - Jeffrey Erhart, PC in Phoenix, AZ
6245 N. 24th Parkway
Phoenix, AZ 85016
Offices of Lawyers
NAICS code 541110
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Phoenix
In the Phoenix area, 209 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 3) and received an average PPP loan of $160,472 (compared to this company's $24,896).
Similar Nearby Businesses Who Received PPP Funding:
Cross & Lieberman, PA
Daniel A. Zanon, LTD
Jeffrey G. Pollitt, PC
Gary Michael Smith, PLLC
TCH Law, Plc
Banuelos Law Office
Sonoran Law Group
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, 100% higher than Jeffrey Erhart, PC's reported 3 employees, and received an average PPP loan of $81,518, 227% higher than this company's loan of $24,896.
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Footnotes & Information
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