PPP Loan Data — Law Offices Of Michael J Farrell, PLLC, Phoenix, AZ
Law Offices Of Michael J Farrell, PLLC is a limited liability company (LLC) located at 99 E Virginia Ave Ste 220 in Phoenix, Arizona that received a Coronavirus-related PPP loan from the SBA of $20,130.00 in May, 2020.
$ PPP Loan Information
Lender:JPMORGAN CHASE BANK, NATIONAL ASSOCIATION
Law Offices Of Michael J Farrell, PLLC received a Paycheck Protection Loan of $20,130 through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in May, 2020.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 0.
Based on standard PPP eligibility rules, Law Offices Of Michael J Farrell, PLLC's total 2019 payroll expenses were approximately $96,624 in order to qualify for the PPP loan amount received.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $48,312 per employee1.
Business Information - Law Offices Of Michael J Farrell, PLLC in Phoenix, AZ
99 E Virginia Ave Ste 220
Phoenix, AZ 85004
Offices of Lawyers (NAICS code 541110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: AZ-07
Similar Companies near Phoenix
In the Phoenix area, 146 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 14 employees (compared to this company's 2) and received an average PPP loan of $250,088 (compared to this company's $20,130).
Similar Nearby Businesses Who Received PPP Funding:
The People's Law Firm, Plc
Renaud, Cook, Drury, Mesaros, PA
The Ferragut Law Firm, PC
Coppersmith Brockelman Plc
Matthew F Leathers, PC
Forrester & Worth, PLLC
Pajerski Law PC
Marsha Goodman Attorney, PLLC
Jerome Gibson Stewart
Industry PPP Comparison Statistics
Nationwide, 126,779 businesses in the "Offices of Lawyers" industry received a total of $11,918,471,350.00 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 Offices Of Michael J Farrell, PLLC's reported 2 employees, and received an average PPP loan of $94,010, 367% higher than this company's loan of $20,130.
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. 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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