Kane Russell Coleman Logan PC is a corporation located at 901 Main Street in Dallas, Texas that received a Coronavirus-related PPP loan from the SBA of $3,295,169.00 in April, 2020.

$ PPP Loan Information

Loan #6755827010

Kane Russell Coleman Logan PC in Dallas, TX received a Paycheck Protection Loan of $3.3M through PNC Bank, National Association, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

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 144 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.

The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 158. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

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, Kane Russell Coleman Logan PC's 2019 payroll expenses are estimated to be at least $15.82M (not accounting for salary amounts > $100k).

Because the 144 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.

Reported PPP Proceed Usage:

On the PPP application, Kane Russell Coleman Logan PC reported intending to use the proceeds of their PPP loan for the following expenses:

• Payroll: $2,471,377
• Utilities: $411,896
• Mortgage Interest: $411,896

Business Information - Kane Russell Coleman Logan PC in Dallas, TX

Similar Companies near Dallas

In the Dallas area, 339 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 15 employees (compared to this company's 144) and received an average PPP loan of $271,284 (compared to this company's $3.3M).

Industry PPP Comparison Statistics

Nationwide, 200,507 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 Kane Russell Coleman Logan PC's reported 144 employees, and received an average PPP loan of $81,669, 98% lower than this company's loan of $3.3M.