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PPP Loan Data — Law Office Of Dennis Bottone PC,
Boston, MA
Law Office Of Dennis Bottone PC
Entity: Corporation
Industry: Offices of Lawyers
Location: Boston, MA
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Law Office Of Dennis Bottone PC is a corporation located at 63 Atlantic Ave Ste 3 in Boston, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $12,697.00 in March, 2021.
$
PPP Loan Information
Loan #8719828509
Loan Size:
Jobs Retained:
2Loan Approved:
2021-03-10Loan Status:
Ongoing LoanLender:
Bank of America, National AssociationLaw Office Of Dennis Bottone PC in Boston, MA received a Paycheck Protection Loan of $12,697 through Bank of America, National Association, which was approved in March, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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 Dennis Bottone PC's 2019 payroll expenses are estimated to be at least $60,946.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $30,473 per employee1
Reported PPP Proceed Usage:
On the PPP application, Law Office Of Dennis Bottone PC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $12,695
- Utilities: $1
Business Information - Law Office Of Dennis Bottone PC in Boston, MA
63 Atlantic Ave Ste 3
Boston, MA 2110
Business Industry:
Offices of Lawyers
NAICS code 541110
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Boston
In the Boston area, 226 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 2) and received an average PPP loan of $239,006 (compared to this company's $12,697).
Similar Nearby Businesses Who Received PPP Funding:
Harold H. Hakala
Boston, MA
Esdaile Barrett Jacobs & Mone LLP
Boston, MA
Charles P Kazarian
Boston, MA
Richard B Reling ESQ
Boston, MA
Quinn & Morris PC
Boston, MA
Richard B Reiling ESQ
Boston, MA
Michael Friedman Attorney At Law
Boston, MA
Koufman & Frederick, LLP
Boston, MA
Elliot M Weinstein
Boston, MA
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 Dennis Bottone PC's reported 2 employees, and received an average PPP loan of $81,518, 542% higher than this company's loan of $12,697.
Law Office Of Dennis Bottone PC
Entity: Corporation
Industry:
Location: Boston, MA
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Law Office Of Dennis Bottone PC is a corporation located at 63 Atlantic Ave 3 F in Boston, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $12,698.00 in May, 2020.
$
PPP Loan Information
Loan #6018757710
Loan Size:
Jobs Retained:
3Loan Approved:
2020-05-01Loan Status:
Paid in Full or ForgivenLender:
Bank of America, National AssociationLaw Office Of Dennis Bottone PC in Boston, MA received a Paycheck Protection Loan of $12,698 through Bank of America, National Association, which was approved in May, 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
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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 Dennis Bottone PC's 2019 payroll expenses are estimated to be at least $60,950.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $20,317 per employee1
Reported PPP Proceed Usage:
On the PPP application, Law Office Of Dennis Bottone PC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $12,698
Business Information - Law Office Of Dennis Bottone PC in Boston, MA
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: New Business or 2 years or less
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 0 businesses in the "" industry received a total of $0 in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 0 employees, 100% lower than Law Office Of Dennis Bottone PC's reported 3 employees, and received an average PPP loan of $0, 100% lower than this company's loan of $12,698.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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