PPP Loan Data — Mcelroy Deutsch Mulvaney & Carpenter LLP, Morristown, NJ
Mcelroy Deutsch Mulvaney & Carpenter LLP is a limited liability partnership located at 1300 Mount Kemble Ave in Morristown, New Jersey that received a Coronavirus-related PPP loan from the SBA of $8,145,900.00 in April, 2020.
$ PPP Loan Information
Mcelroy Deutsch Mulvaney & Carpenter LLP in Morristown, NJ received a Paycheck Protection Loan of $8.15M through PEAPACK-GLADSTONE BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Mcelroy Deutsch Mulvaney & Carpenter LLP's total 2019 payroll expenses were approximately $39.1M in order to qualify for the PPP loan amount received.
Based on their reported 426 jobs retained, this equals an estimated average yearly compensation of $91,785 per employee1.
Business Information - Mcelroy Deutsch Mulvaney & Carpenter LLP in Morristown, NJ
1300 Mount Kemble Ave
Morristown, NJ 7960
Offices of Lawyers (NAICS code 541110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NJ-11
Similar Companies near Morristown
In the Morristown area, 106 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 426) and received an average PPP loan of $204,391 (compared to this company's $8.15M).
Similar Nearby Businesses Who Received PPP Funding:
Law Offices Of Terry Webb
Maynard Law Office LLC
Stuart B Klepesch
Berman Rosenbach LLC
Gedney Seaman And Hilgendorff
Gold, Albanese Barletti & Locasio LLC
Law Firm Of William Koy, LLP
Traflet & Fabian
Wiley Malehorn Sirota & Raynes
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, 99% lower than Mcelroy Deutsch Mulvaney & Carpenter LLP's reported 426 employees, and received an average PPP loan of $94,010, 99% lower than this company's loan of $8.15M.
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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