PPP Loan Data — Michael L Doyle CPA, Elgin, OK
Michael L Doyle CPA is a sole proprietorship located at 818 H St in Elgin, Oklahoma that received a Coronavirus-related PPP loan from the SBA of $45,788.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Liberty National Bank
Michael L Doyle CPA in Elgin, OK received a Paycheck Protection Loan of $45,788 through Liberty National Bank, which was approved in January, 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, Michael L Doyle CPA's 2019 payroll expenses are estimated to be at least $219,782.
Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $24,420 per employee1
Reported PPP Proceed Usage:
On the PPP application, Michael L Doyle CPA reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,786
- Utilities: $1
Business Information - Michael L Doyle CPA in Elgin, OK
818 H St
Elgin, OK 73538
Offices of Certified Public Accountants
NAICS code 541211
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Elgin
In the Elgin area, 3 businesses in the "Offices of Certified Public Accountants" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 9) and received an average PPP loan of $34,122 (compared to this company's $45,788).
Similar Nearby Businesses Who Received PPP Funding:
Michael L. Doyle
Industry PPP Comparison Statistics
Nationwide, 57,013 businesses in the "Offices of Certified Public Accountants" industry received a total of $4.21B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 6 employees, 33% lower than Michael L Doyle CPA's reported 9 employees, and received an average PPP loan of $73,772, 61% higher than this company's loan of $45,788.
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Footnotes & Information
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