PPP Loan Data — Lebel Associates Inc, Danvers, MA
Lebel Associates Inc is a corporation located at 74 Elm Street in Danvers, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $25,400.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:North Shore Bank, A Cooperative Bank
Lebel Associates Inc in Danvers, MA received a Paycheck Protection Loan of $25,400 through North Shore Bank, A Cooperative Bank, 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 January, 2021.
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, Lebel Associates Inc's 2019 payroll expenses are estimated to be at least $121,920.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,480 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lebel Associates Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,400
Business Information - Lebel Associates Inc in Danvers, MA
74 Elm Street
Danvers, MA 1923
Offices of Certified Public Accountants
NAICS code 541211
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Danvers
In the Danvers area, 14 businesses in the "Offices of Certified Public Accountants" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 4) and received an average PPP loan of $72,940 (compared to this company's $25,400).
Similar Nearby Businesses Who Received PPP Funding:
Grandmaison & Tripoli, LLP, CPAs
Terranova & Associates LLC
Caputo & Company, PC
Farrar Gates & Green, LLC
Chiuve & Company PC
Wayne P. Kingston, CPA
Neal A. Price & Company LLP
Chiuve And Company PC
Industry PPP Comparison Statistics
Nationwide, 57,013 businesses in the "Offices of Certified Public Accountants" industry received a total of $4.21B 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 6 employees, 50% higher than Lebel Associates Inc's reported 4 employees, and received an average PPP loan of $73,772, 190% higher than this company's loan of $25,400.
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Footnotes & Information
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