PPP Loan Data — Oster Law Offices, Lincoln, RI
Oster Law Offices is a sole proprietorship located in Lincoln, Rhode Island that received a Coronavirus-related PPP loan from the SBA of $25,400.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least one person during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Citizens Bank, National Association
Oster Law Offices in Lincoln, RI received a Paycheck Protection Loan of $25,400 through Citizens Bank, National Association, 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 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Reported PPP Proceed Usage:
On the PPP application, Oster Law Offices reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,400
Business Information - Oster Law Offices in Lincoln, RI
* Full address is redacted to protect the privacy of individuals.
Offices of Lawyers
NAICS code 541110
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Lincoln
In the Lincoln area, 23 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 1) and received an average PPP loan of $40,043 (compared to this company's $25,400).
Similar Nearby Businesses Who Received PPP Funding:
Alexander J. Raheb
Bigos & Partington, LTD
Carlino Law Associates, PC
Law Office Of Gary R Alger
Joseph Raheb, ESQ
Lombardi Law Group LLC
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, 500% higher than Oster Law Offices' reported 1 employees, and received an average PPP loan of $81,518, 221% higher than this company's loan of $25,400.
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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