PPP Loan Data — Law Office Of David A. Bredin And Associates, PC, Flushing, NY
Law Office Of David A. Bredin And Associates, PC is a sole proprietorship located at 3910 Main Street, Suite 201 in Flushing, New York that received a Coronavirus-related PPP loan from the SBA of $25,370.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:HSBC Bank USA, National Association
Law Office Of David A. Bredin And Associates, PC in Flushing, NY received a Paycheck Protection Loan of $25,370 through HSBC Bank USA, National Association, 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, Law Office Of David A. Bredin And Associates, PC's 2019 payroll expenses are estimated to be at least $121,776.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,444 per employee1
Reported PPP Proceed Usage:
On the PPP application, Law Office Of David A. Bredin And Associates, PC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,370
Business Information - Law Office Of David A. Bredin And Associates, PC in Flushing, NY
3910 Main Street, Suite 201
Flushing, NY 11354
Offices of Lawyers
NAICS code 541110
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Flushing
In the Flushing area, 153 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 4) and received an average PPP loan of $41,528 (compared to this company's $25,370).
Similar Nearby Businesses Who Received PPP Funding:
Law Offifce Of Ming Hai PC
Am Immigration Services, Inc
Law Offices Of Mei S. Chen
New Qingteng Elite Service Inc
Zhang And Sun P. C
Law Office Of Mike Rhee
Miao & Associates PLLC
HUI Chen & Associates PLLC
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, 50% higher than Law Office Of David A. Bredin And Associates, PC's reported 4 employees, and received an average PPP loan of $81,518, 221% higher than this company's loan of $25,370.
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Footnotes & Information
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