PPP Loan Data — Paul A. Lea Jr. 'A Professional Corporation ', Covington, LA
Paul A. Lea Jr. 'A Professional Corporation ' is a limited liability company (LLC) located at 724 E. Boston St. in Covington, Louisiana that received a Coronavirus-related PPP loan from the SBA of $46,600.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Gulf Coast Bank and Trust Company
Paul A. Lea Jr. 'A Professional Corporation ' in Covington, LA received a Paycheck Protection Loan of $46,600 through Gulf Coast Bank and Trust Company, 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, Paul A. Lea Jr. 'A Professional Corporation ''s 2019 payroll expenses are estimated to be at least $223,680.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $74,560 per employee1
Reported PPP Proceed Usage:
On the PPP application, Paul A. Lea Jr. 'A Professional Corporation ' reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $34,950
- Utilities: $11,650
Business Information - Paul A. Lea Jr. 'A Professional Corporation ' in Covington, LA
724 E. Boston St.
Covington, LA 70433
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: Y
Rural / Urban: Urban
Similar Companies near Covington
In the Covington area, 128 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 3) and received an average PPP loan of $44,186 (compared to this company's $46,600).
Similar Nearby Businesses Who Received PPP Funding:
Tranchina & Mansfield, LLC
Sulzer & Williams LLC
Law Office Of James G. Burke, III
Law Office Of F A 'Jim' Dugan Jr LLC
Daigle Fisse & Kessenich, Plc
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, 100% higher than Paul A. Lea Jr. 'A Professional Corporation ''s reported 3 employees, and received an average PPP loan of $81,518, 75% higher than this company's loan of $46,600.
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Footnotes & Information
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