PPP Loan Data — Kennedys Cmk LLP, Basking Ridge, NJ

Kennedys Cmk LLP is a partnership located at 120 Mountainview Blvd in Basking Ridge, New Jersey that received a Coronavirus-related PPP loan from the SBA of $3,961,277.00 in April, 2020.

The company has reported itself as a female owned business, and employed at least 188 people during the applicable loan loan period.

$ PPP Loan Information

Loan #9185247210

Kennedys Cmk LLP in Basking Ridge, NJ received a Paycheck Protection Loan of $3.96M through Provident 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 February, 2022.

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 188 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 190. 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, Kennedys Cmk LLP's 2019 payroll expenses are estimated to be at least $19.01M (not accounting for salary amounts > $100k).

Because the 188 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, Kennedys Cmk LLP reported intending to use the proceeds of their PPP loan for the following expenses:

• Payroll: $3,961,277

Business Information - Kennedys Cmk LLP in Basking Ridge, NJ

Similar Companies near Basking Ridge

In the Basking Ridge area, 38 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 188) and received an average PPP loan of $167,361 (compared to this company's $3.96M).

Industry PPP Comparison Statistics

Nationwide, 200,504 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, 97% lower than Kennedys Cmk LLP's reported 188 employees, and received an average PPP loan of $81,670, 98% lower than this company's loan of $3.96M.