PPP Loan Data — Lippes Mathias Wexler Friedman LLP, Buffalo, NY
Lippes Mathias Wexler Friedman LLP is a partnership located at 50 Fountain Plaza in Buffalo, New York that received a Coronavirus-related PPP loan from the SBA of $2,960,607.00 in April, 2020.
$ PPP Loan Information
Lender:MANUFACTURERS AND TRADERS TRUST COMPANY
Lippes Mathias Wexler Friedman LLP in Buffalo, NY received a Paycheck Protection Loan of $2.96M through MANUFACTURERS AND TRADERS TRUST COMPANY, which was approved in April, 2020.
Based on standard PPP eligibility rules, Lippes Mathias Wexler Friedman LLP's total 2019 payroll expenses were approximately $14.21M in order to qualify for the PPP loan amount received.
Based on their reported 161 jobs retained, this equals an estimated average yearly compensation of $88,267 per employee1.
Business Information - Lippes Mathias Wexler Friedman LLP in Buffalo, NY
50 Fountain Plaza
Buffalo, NY 14202
Offices of Lawyers (NAICS code 541110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NY-26
Similar Companies near Buffalo
In the Buffalo area, 177 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 161) and received an average PPP loan of $251,476 (compared to this company's $2.96M).
Similar Nearby Businesses Who Received PPP Funding:
Harrington & Mahoney
Tupchik Legal Group, PLLC
Magavern Magavern Grimm LLP
Law Office Of Matthew A. Lazroe
Kolken & Kolken
Law Office Of Kathryn M Kirsch PLLC
Serotte Reich PLLC
Barbara A Kilbridge
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, 96% lower than Lippes Mathias Wexler Friedman LLP's reported 161 employees, and received an average PPP loan of $94,010, 97% lower than this company's loan of $2.96M.
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, and is published unmodified, as provided by the SBA.
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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