PPP Loan Data — Law Office Of Brett W Hale, Iowa Park, TX
Law Office Of Brett W Hale is a sole proprietorship located at 101 N Bond St in Iowa Park, Texas 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
Law Office Of Brett W Hale in Iowa Park, TX received a Paycheck Protection Loan of $25,000 through Pilgrim 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 December, 2020.
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, Law Office Of Brett W Hale'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, Law Office Of Brett W Hale reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Law Office Of Brett W Hale in Iowa Park, TX
101 N Bond St
Iowa Park, TX 76367
Offices of Lawyers
NAICS code 541110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
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 Law Office Of Brett W Hale'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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