PPP Loan Data — Joseph Waldbaum, ESQ, Beverly, MA
Joseph Waldbaum, ESQ is a limited liability partnership located at 100 Cummings Ctr Suite 207p in Beverly, Massachusetts 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
Joseph Waldbaum, ESQ in Beverly, MA received a Paycheck Protection Loan of $25,000 through Eastern 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 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, Joseph Waldbaum, ESQ'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, Joseph Waldbaum, ESQ reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Joseph Waldbaum, ESQ in Beverly, MA
100 Cummings Ctr Suite 207p
Beverly, MA 1915
Offices of Lawyers
NAICS code 541110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Beverly
In the Beverly area, 69 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 2) and received an average PPP loan of $63,947 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Sinclair Law LLC
Bernardin Law Firm, PC., The
Ddsk Law LLC
Diane Swierczynski, Attorney At Law
Donald J Fournier
Glovsky & Glovsky LLC
The Bernstein Law Group
Jennifer Warry DBA J C Warry Law
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 Joseph Waldbaum, ESQ'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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