PPP Loan Data — Mckool Smith A Professional Corporation, Dallas, TX
Mckool Smith A Professional Corporation is a subchapter s corporation located at 300 Crescent Court in Dallas, Texas that received a Coronavirus-related PPP loan from the SBA of $7,995,400.00 in April, 2020.
$ PPP Loan Information
Mckool Smith A Professional Corporation received a Paycheck Protection Loan of $8M through CITIBANK, N.A., which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 319 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 384.
Based on standard PPP eligibility rules, Mckool Smith A Professional Corporation's total 2019 payroll expenses were approximately $38.38M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 319 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Mckool Smith A Professional Corporation in Dallas, TX
300 Crescent Court
Dallas, TX 75201
Offices of Lawyers (NAICS code 541110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: TX-30
Similar Companies near Dallas
In the Dallas area, 235 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 319) and received an average PPP loan of $334,623 (compared to this company's $8M).
Similar Nearby Businesses Who Received PPP Funding:
Crawford Wishnew & Lang PLLC
Martin Appeals, PLLC
Kevin Buchanan & Associates, PLLC
Main Brain LTD DBA The Traylor Law Firm
Jeffrey Scott Levinger PC
Kelley Law Firm, PC
Adkerson, Hauder & Bezney, PC
Chalrles W Branham III P C
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, 98% lower than Mckool Smith A Professional Corporation's reported 319 employees, and received an average PPP loan of $94,010, 99% lower than this company's loan of $8M.
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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