Oliff Plc in Alexandria, VA - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — Oliff Plc, Alexandria, VA

Oliff Plc

Entity: Limited Liability Company (LLC)

Industry: Offices of Lawyers

Location: Alexandria, VA

Oliff Plc is a limited liability company (LLC) located at 277 S Washington Street, Suite 500 in Alexandria, Virginia that received a Coronavirus-related PPP loan from the SBA of $2,607,128.00 in April, 2020.

$ PPP Loan Information
Loan #5749167306

Loan Size:

$2.61M

Jobs Retained:

137

Loan Approved:

2020-04-30

Loan Status:

Paid in Full or Forgiven

Lender:

Truist Bank d/b/a Branch Banking & Trust Co

Oliff Plc in Alexandria, VA received a Paycheck Protection Loan of $2.61M through Truist Bank d/b/a Branch Banking & Trust Co, which was approved in April, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in July, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

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, Oliff Plc's 2019 payroll expenses are estimated to be at least $12.51M.

Based on their reported 137 jobs retained, this equals an estimated average yearly compensation of $91,345 per employee¹

Reported PPP Proceed Usage:

On the PPP application, Oliff Plc reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $2,607,128

Because the loan received by Oliff Plc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Oliff Plc in Alexandria, VA

Oliff Plc
277 S Washington Street, Suite 500
Alexandria, VA 22314

Business Industry:
Offices of Lawyers
NAICS code 541110

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Alexandria City County, VA — SBA Office 0353 — Congressional District: VA-08

Similar Companies near Alexandria

In the Alexandria area, 173 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 137) and received an average PPP loan of $130,019 (compared to this company's $2.61M).

Similar Nearby Businesses Who Received PPP Funding:

Old Towne Associates PC
Alexandria, VA

$31,720 PPP Loan

Kenneth D. Bynum Esquire PLLC
Alexandria, VA

$20,833 PPP Loan

Tminstitute, LLC
Alexandria, VA

$14,850 PPP Loan

Mark E. Ricardo, ESQ
Alexandria, VA

$20,500 PPP Loan

Mercertrigiani LLP
Alexandria, VA

$260,098 PPP Loan

Hainer Porras
Alexandria, VA

$10,000 PPP Loan

Rosenblum & Rosenblum LLC
Alexandria, VA

$32,970 PPP Loan

Swift & Swift, Attorneys At Law, PLLC
Alexandria, VA

$20,100 PPP Loan

William B. Cummings, PC
Alexandria, VA

$36,103 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 200,507 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, 96% lower than Oliff Plc's reported 137 employees, and received an average PPP loan of $81,669, 97% lower than this company's loan of $2.61M.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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