PPP Loan Data — Law Office Of Mark E Edison PC, Lombard, IL
Law Office Of Mark E Edison PC is a subchapter s corporation located at 305 N Fairfield, Ave in Lombard, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,120.00 in April, 2020.
The company has reported itself as a female owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Inland Bank and Trust
Law Office Of Mark E Edison PC in Lombard, IL received a Paycheck Protection Loan of $25,120 through Inland Bank and Trust, 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 Mark E Edison PC's 2019 payroll expenses are estimated to be at least $120,576.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,192 per employee1
Reported PPP Proceed Usage:
On the PPP application, Law Office Of Mark E Edison PC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,120
Business Information - Law Office Of Mark E Edison PC in Lombard, IL
305 N Fairfield, Ave
Lombard, IL 60148
Offices of Lawyers
NAICS code 541110
Business Owner Demographics
Gender: Female Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Lombard
In the Lombard area, 22 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 3) and received an average PPP loan of $88,243 (compared to this company's $25,120).
Similar Nearby Businesses Who Received PPP Funding:
William M Tarnow
Cerami Law Firm LLC
AAI Law Group LLC
Law Offices Of Majdi Y. Hijazin, LTD
Law Office Of Thomas J. Vlach, PC
Sulaiman Law Group, LTD
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, 100% higher than Law Office Of Mark E Edison PC's reported 3 employees, and received an average PPP loan of $81,518, 225% higher than this company's loan of $25,120.
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