PPP Loan Data — Law Office Of Thomas J Petrelli PC, Philadelphia, PA
Law Office Of Thomas J Petrelli PC is a corporation located at 1845 Walnut St in Philadelphia, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $25,200.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
Law Office Of Thomas J Petrelli PC in Philadelphia, PA received a Paycheck Protection Loan of $25,200 through PNC Bank, National Association, which was approved in May, 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 Thomas J Petrelli PC's 2019 payroll expenses are estimated to be at least $120,960.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,480 per employee1
Reported PPP Proceed Usage:
On the PPP application, Law Office Of Thomas J Petrelli PC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,200
Business Information - Law Office Of Thomas J Petrelli PC in Philadelphia, PA
1845 Walnut St
Philadelphia, PA 19103
Offices of Lawyers
NAICS code 541110
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Philadelphia
In the Philadelphia area, 724 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 15 employees (compared to this company's 2) and received an average PPP loan of $252,216 (compared to this company's $25,200).
Similar Nearby Businesses Who Received PPP Funding:
William C. Dixon & Associates PC
Spear Greenfield Richman PC
Liacouras & Smith LLP
Ominsky & Ominsky, PC
Law Office Of Keelin S. Barry, LLC
Bardsley, Benedict & Cholden, LLP
Law Offices Of Samuel F Kafrissen P C
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 Thomas J Petrelli PC's reported 2 employees, and received an average PPP loan of $81,518, 223% higher than this company's loan of $25,200.
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Footnotes & Information
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