PPP Loan Data — Mandarich Law Group, LLP, Chicago, IL
Mandarich Law Group, LLP is a partnership located at 444 N Michigan Ave, Suite 600 in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $1,511,500.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:BMO Harris Bank National Association
Mandarich Law Group, LLP in Chicago, IL received a Paycheck Protection Loan of $1.51M through BMO Harris 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 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, Mandarich Law Group, LLP's 2019 payroll expenses are estimated to be at least $7.26M.
Based on their reported 127 jobs retained, this equals an estimated average yearly compensation of $57,128 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mandarich Law Group, LLP reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,511,500
Business Information - Mandarich Law Group, LLP in Chicago, IL
444 N Michigan Ave, Suite 600
Chicago, IL 60611
Offices of Lawyers
NAICS code 541110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 101 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 12 employees (compared to this company's 127) and received an average PPP loan of $225,851 (compared to this company's $1.51M).
Similar Nearby Businesses Who Received PPP Funding:
First Defense Legal Aid
Mary Mccarthy, LLC
Law Offices Of Max Elliott LTD
Green, Griffith & Borg-Breen LLP
Susan Ritacca Law Office
Richard W Burke Sr
Grund & Leavitt PC
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, 95% lower than Mandarich Law Group, LLP's reported 127 employees, and received an average PPP loan of $81,518, 95% lower than this company's loan of $1.51M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!