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PPP Loan Data — Law Offices Of Michelle Pruitt Studstill PA,
Melbourne, FL
Law Offices Of Michelle Pruitt Studstill PA
Entity: Corporation
Industry: Professional Organizations
Location: Melbourne, FL
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Law Offices Of Michelle Pruitt Studstill PA is a corporation located at 1361 Bedford Dr Ste 103 in Melbourne, Florida that received a Coronavirus-related PPP loan from the SBA of $31,723.00 in February, 2021.
$
PPP Loan Information
Loan #7124418402
Loan Size:
Jobs Retained:
2Loan Approved:
2021-02-11Loan Status:
Paid in Full or ForgivenLender:
South State Bank, National AssociationLaw Offices Of Michelle Pruitt Studstill PA in Melbourne, FL received a Paycheck Protection Loan of $31,723 through South State Bank, National Association, which was approved in February, 2021.
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 September, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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 Offices Of Michelle Pruitt Studstill PA's 2019 payroll expenses are estimated to be at least $152,270.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $76,135 per employee1
Reported PPP Proceed Usage:
On the PPP application, Law Offices Of Michelle Pruitt Studstill PA reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $31,721
- Utilities: $1
Business Information - Law Offices Of Michelle Pruitt Studstill PA in Melbourne, FL
1361 Bedford Dr Ste 103
Melbourne, FL 32940
Business Industry:
Professional Organizations
NAICS code 813920
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Melbourne
In the Melbourne area, 4 businesses in the "Professional Organizations" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 2) and received an average PPP loan of $46,646 (compared to this company's $31,723).
Similar Nearby Businesses Who Received PPP Funding:
Szuba Guardian Care Solutions, Inc
Melbourne, FL
Brevard Schools Foundation Inc
Viera, FL
The Singer Firm, PA
Melbourne, FL
Industry PPP Comparison Statistics
Nationwide, 9,453 businesses in the "Professional Organizations" industry received a total of $902.32M 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 8 employees, 300% higher than Law Offices Of Michelle Pruitt Studstill PA's reported 2 employees, and received an average PPP loan of $95,453, 201% higher than this company's loan of $31,723.
Law Offices Of Michelle Pruitt Studstill, PA
Entity: Corporation
Industry: Offices of Lawyers
Location: Melbourne, FL
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Law Offices Of Michelle Pruitt Studstill, PA is a corporation located at 1361 Bedford Drive in Melbourne, Florida that received a Coronavirus-related PPP loan from the SBA of $27,500.00 in April, 2020.
$
PPP Loan Information
Loan #3969387109
Loan Size:
Jobs Retained:
3Loan Approved:
2020-04-12Loan Status:
Paid in Full or ForgivenLender:
South State Bank, National AssociationLaw Offices Of Michelle Pruitt Studstill, PA in Melbourne, FL received a Paycheck Protection Loan of $27,500 through South State 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 March, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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 Offices Of Michelle Pruitt Studstill, PA's 2019 payroll expenses are estimated to be at least $132,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $44,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Law Offices Of Michelle Pruitt Studstill, PA reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $27,500
Business Information - Law Offices Of Michelle Pruitt Studstill, PA in Melbourne, FL
1361 Bedford Drive
Melbourne, FL 32940
Business Industry:
Offices of Lawyers
NAICS code 541110
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Melbourne
In the Melbourne area, 40 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 3) and received an average PPP loan of $29,843 (compared to this company's $27,500).
Similar Nearby Businesses Who Received PPP Funding:
The Law Office Of John A Russo PA
Melbourne, FL
Law Office Of David A. Gunter, PA
Melbourne, FL
Sinclair Law Offices
Melbourne, FL
Stewart Law Cs LLC
Melbourne, FL
Sanders-Randall & Rice PLLC
Melbourne, FL
Law Office Of Sandra E Valentin, ESQ., LLC
Melbourne, FL
Law Offices Of J Scott Lanford
Melbourne, FL
Ernest L Chang PA
Melbourne, FL
Arna D Cortazzo PA
Melbourne, FL
Industry PPP Comparison Statistics
Nationwide, 200,507 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 Offices Of Michelle Pruitt Studstill, PA's reported 3 employees, and received an average PPP loan of $81,669, 197% higher than this company's loan of $27,500.
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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