PPP Loan Data — Macdonald Illig Jones & Britton LLP, Erie, PA
Macdonald Illig Jones & Britton LLP is a limited liability partnership located at 100 State St Suite 700 in Erie, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $1,609,900.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 91 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First National Bank of Pennsylvania
Macdonald Illig Jones & Britton LLP in Erie, PA received a Paycheck Protection Loan of $1.61M through First National Bank of Pennsylvania, 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 December, 2020.
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, Macdonald Illig Jones & Britton LLP's 2019 payroll expenses are estimated to be at least $7.73M.
Based on their reported 91 jobs retained, this equals an estimated average yearly compensation of $84,918 per employee1
Reported PPP Proceed Usage:
On the PPP application, Macdonald Illig Jones & Britton LLP reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,609,900
Business Information - Macdonald Illig Jones & Britton LLP in Erie, PA
100 State St Suite 700
Erie, PA 16507
Offices of Lawyers
NAICS code 541110
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Erie
In the Erie area, 34 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 91) and received an average PPP loan of $114,063 (compared to this company's $1.61M).
Similar Nearby Businesses Who Received PPP Funding:
Barbara J. Welton, Attorney At Law
Martone & Peasley
Nicholas Perot Smith Koehler & Wall PC
Zanita A. Zacks-Gabriel ESQ
William Timothy Morton
Elderkin Law Firm
Cardinal Pointe Closings, 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, 93% lower than Macdonald Illig Jones & Britton LLP's reported 91 employees, and received an average PPP loan of $81,518, 95% lower than this company's loan of $1.61M.
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Footnotes & Information
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