PPP Loan Data — Matthew J Mugno, Allentown, PA
Matthew J Mugno is a sole proprietorship located in Allentown, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
Matthew J Mugno in Allentown, PA received a Paycheck Protection Loan of $25,000 through PNC Bank, National Association, which was approved in May, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Reported PPP Proceed Usage:
On the PPP application, Matthew J Mugno reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Matthew J Mugno in Allentown, PA
* Full address is redacted to protect the privacy of individuals.
Offices of Lawyers
NAICS code 541110
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Allentown
In the Allentown area, 54 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 1) and received an average PPP loan of $82,528 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Torres Law Offices, PC
Mobilio Law, LLC
Kline And Kline
Roth Law Firm
Jeffry Gilbert Attorney At Law
Fitzpatrick Lentz & Bubba, PC
Industry PPP Comparison Statistics
PPP recipients in this industry report an average of 6 employees, 500% higher than Matthew J Mugno's reported 1 employees, and received an average PPP loan of $81,518, 226% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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