PPP Loan Data — Law Offices Of Jill M. Mcgoldrick, LLC, Milford, CT
Law Offices Of Jill M. Mcgoldrick, LLC is a limited liability company (LLC) located in Milford, Connecticut that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:People's United Bank, National Association
Law Offices Of Jill M. Mcgoldrick, LLC in Milford, CT received a Paycheck Protection Loan of $25,000 through People's United Bank, National Association, 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 June, 2021.The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 1 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Reported PPP Proceed Usage:
On the PPP application, Law Offices Of Jill M. Mcgoldrick, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Law Offices Of Jill M. Mcgoldrick, LLC in Milford, CT
* Full address is redacted to protect the privacy of individuals.
Offices of Lawyers
NAICS code 541110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Milford
In the Milford area, 68 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 1) and received an average PPP loan of $126,576 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Chesson & Schweickert, LLC
Lalibrete Law, LLC
Park & Associates IP Law, PC
Mccabe Wikstrom And Barney
Kevin W. Finch, ESQ
Mccabe Wikstrom & Barney LLC
Milford Law LLC
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, 500% higher than Law Offices Of Jill M. Mcgoldrick, LLC's reported 1 employees, and received an average PPP loan of $81,518, 226% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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