PPP Loan Data — Law Office Of David Madden LLC, Portland, OR
Law Office Of David Madden LLC is a corporation located at 9600 Sw Oak St Suite 500 in Portland, Oregon that received a Coronavirus-related PPP loan from the SBA of $25,458.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Columbia State Bank
Law Office Of David Madden LLC in Portland, OR received a Paycheck Protection Loan of $25,458 through Columbia State 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 November, 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 David Madden LLC's 2019 payroll expenses are estimated to be at least $122,198.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $61,099 per employee1
Reported PPP Proceed Usage:
On the PPP application, Law Office Of David Madden LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,458
Business Information - Law Office Of David Madden LLC in Portland, OR
9600 Sw Oak St Suite 500
Portland, OR 97223
Offices of Lawyers
NAICS code 541110
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Portland
In the Portland area, 83 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 2) and received an average PPP loan of $72,290 (compared to this company's $25,458).
Similar Nearby Businesses Who Received PPP Funding:
Leonard J. Kovac, Jr. LLC
KPM Law LLC
The Law Office Of Max Wall LLC
Soofi Law Office, LLC
Joel E. Fowlks
Harris Berne Christensen LLP
Maccoll Busch Sato, PC
Robert L Wolf
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 David Madden LLC's reported 2 employees, and received an average PPP loan of $81,518, 220% higher than this company's loan of $25,458.
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Footnotes & Information
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