PPP Loan Data — Mcdowell Chartered, Wichita, KS
Mcdowell Chartered is a corporation located at 830 N. Main in Wichita, Kansas that received a Coronavirus-related PPP loan from the SBA of $25,321.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Wells Fargo Bank, National Association
Mcdowell Chartered in Wichita, KS received a Paycheck Protection Loan of $25,321 through Wells Fargo Bank, National Association, which was approved in May, 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 May, 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, Mcdowell Chartered's 2019 payroll expenses are estimated to be at least $121,541.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,308 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mcdowell Chartered reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,321
Business Information - Mcdowell Chartered in Wichita, KS
830 N. Main
Wichita, KS 67203
Offices of Lawyers
NAICS code 541110
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Wichita
In the Wichita area, 110 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 5) and received an average PPP loan of $92,066 (compared to this company's $25,321).
Similar Nearby Businesses Who Received PPP Funding:
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Minter & Pollak Lc
Gibson Watson Marino LLC
Hulnick Stang Gering & Leavitt PA
Prelle Eron & Bailey PA
Morris Laing Evans Brock & Kennedy Chartered
Lowe Law LLC
Eron Law, PA
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, 20% higher than Mcdowell Chartered's reported 5 employees, and received an average PPP loan of $81,518, 222% higher than this company's loan of $25,321.
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Footnotes & Information
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