PPP Loan Data — Law Office Of Samuel R. Smith II, Cleveland, OH
Law Office Of Samuel R. Smith II is a sole proprietorship located in Cleveland, Ohio that received a Coronavirus-related PPP loan from the SBA of $20,800.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Citizens Bank, National Association
Law Office Of Samuel R. Smith II in Cleveland, OH received a Paycheck Protection Loan of $20,800 through Citizens Bank, National Association, which was approved in May, 2020.
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.
Reported PPP Proceed Usage:
On the PPP application, Law Office Of Samuel R. Smith II reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $20,800
Business Information - Law Office Of Samuel R. Smith II in Cleveland, OH
* Full address is redacted to protect the privacy of individuals.
Legal Counsel and Prosecution
NAICS code 922130
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Cleveland
In the Cleveland area, 16 businesses in the "Legal Counsel and Prosecution" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 1) and received an average PPP loan of $402,461 (compared to this company's $20,800).
Similar Nearby Businesses Who Received PPP Funding:
Hahn Loeser & Parks LLP
Granovsky & Sundaresh PLLC
Sidoti Co Lpa
Mansour Gavin Lpa
Grant A Goodman
Kronenberg + Belovich Law LLC
Donald G. Riemer Atty-At-Law
The Eisen Law Firm
Industry PPP Comparison Statistics
Nationwide, 9,052 businesses in the "Legal Counsel and Prosecution" industry received a total of $544.18M 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 4 employees, 300% higher than Law Office Of Samuel R. Smith II's reported 1 employees, and received an average PPP loan of $60,117, 189% higher than this company's loan of $20,800.
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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