PPP Loan Data — Nixon & Vanderhye PC, Arlington, VA
Nixon & Vanderhye PC is a corporation located at 901 N. Glebe Road, Suite 1100 in Arlington, Virginia that received a Coronavirus-related PPP loan from the SBA of $1,889,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 89 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Nixon & Vanderhye PC in Arlington, VA received a Paycheck Protection Loan of $1.89M through Truist Bank d/b/a Branch Banking & Trust Co, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 91. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Nixon & Vanderhye PC's 2019 payroll expenses are estimated to be at least $9.07M (not accounting for salary amounts > $100k).
Because the 89 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Nixon & Vanderhye PC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,889,000
Business Information - Nixon & Vanderhye PC in Arlington, VA
901 N. Glebe Road, Suite 1100
Arlington, VA 22203
Offices of Lawyers
NAICS code 541110
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Arlington
In the Arlington area, 41 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 89) and received an average PPP loan of $81,446 (compared to this company's $1.89M).
Similar Nearby Businesses Who Received PPP Funding:
DC Metro Immigration Law PLLC
The Law Office Of Mona Iyer Wilcox
Leake Fesseha Attorney At Law PLLC
J.d. Hiznay PLLC
Law Office Of Moona Shakil PLLC
Kathryn A. Coleman
Jennison & Schultz, PC
Industry PPP Comparison Statistics
PPP recipients in this industry report an average of 6 employees, 93% lower than Nixon & Vanderhye PC's reported 89 employees, and received an average PPP loan of $81,518, 96% lower than this company's loan of $1.89M.
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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