PPP Loan Data — Mcmahon Law Offices LTD, Reno, NV
Mcmahon Law Offices LTD is a limited liability company (LLC) located at 3715 Lakeside Drive Suite A in Reno, Nevada that received a Coronavirus-related PPP loan from the SBA of $25,069.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Wells Fargo Bank, National Association
Mcmahon Law Offices LTD in Reno, NV received a Paycheck Protection Loan of $25,069 through Wells Fargo Bank, National Association, which was approved in May, 2020.
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, Mcmahon Law Offices LTD's 2019 payroll expenses are estimated to be at least $120,331.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,166 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mcmahon Law Offices LTD reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,069
Business Information - Mcmahon Law Offices LTD in Reno, NV
3715 Lakeside Drive Suite A
Reno, NV 89509
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 Reno
In the Reno area, 74 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 2) and received an average PPP loan of $58,308 (compared to this company's $25,069).
Similar Nearby Businesses Who Received PPP Funding:
Thomas A Collins, Attorney At Law
JAY Short - Attorney At Law
Law Offices Of Julia S. Gold, A Professional Corporation
Jessica M Maupin
Robert Kilby ESQ. PC
Attorney Marilyn D. York, Inc
Cameron Bordner PC
Whitney & Whitney Inc
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, 200% higher than Mcmahon Law Offices LTD's reported 2 employees, and received an average PPP loan of $81,518, 225% higher than this company's loan of $25,069.
FederalPay's PPP Information Policy
Footnotes & Information
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