PPP Loan Data — Lane Powell PC, Seattle, WA
Lane Powell PC is a corporation located at 1420 Fifth Ave, Suite 4200 in Seattle, Washington that received a Coronavirus-related PPP loan from the SBA of $8,240,740.00 in April, 2020.
$ PPP Loan Information
Lender:WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION
Lane Powell PC received a Paycheck Protection Loan of $8.24M through WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
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 375 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.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 396.
Based on standard PPP eligibility rules, Lane Powell PC's total 2019 payroll expenses were approximately $39.56M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 375 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Lane Powell PC in Seattle, WA
1420 Fifth Ave, Suite 4200
Seattle, WA 98101
Legal Counsel and Prosecution (NAICS code 922130)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: WA-07
Similar Companies near Seattle
In the Seattle area, 3 businesses in the "Legal Counsel and Prosecution" industry received a PPP loan. These local businesses reported an average of 125 employees (compared to this company's 375) and received an average PPP loan of $2,760,258 (compared to this company's $8.24M).
Similar Nearby Businesses Who Received PPP Funding:
Steve J. Stylos Consulting
Alisa Brodkowitz, Attorney At Law
Industry PPP Comparison Statistics
Nationwide, 4,522 businesses in the "Legal Counsel and Prosecution" industry received a total of $346,914,341.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, 99% lower than Lane Powell PC's reported 375 employees, and received an average PPP loan of $76,717, 99% lower than this company's loan of $8.24M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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