PPP Loan Data — Potter, Anderson & Corroon, LLP, Wilmington, DE
Potter, Anderson & Corroon, LLP is a partnership located at 1313 North Market St. 6th Floor in Wilmington, Delaware that received a Coronavirus-related PPP loan from the SBA of $2,246,120.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Fulton Bank, National Association
Potter, Anderson & Corroon, LLP in Wilmington, DE received a Paycheck Protection Loan of $2.25M through Fulton Bank, National Association, which was approved in April, 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, Potter, Anderson & Corroon, LLP's 2019 payroll expenses are estimated to be at least $10.78M.
Based on their reported 150 jobs retained, this equals an estimated average yearly compensation of $71,876 per employee1
Reported PPP Proceed Usage:
On the PPP application, Potter, Anderson & Corroon, LLP reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,684,590
- Utilities: $187,177
- Rent: $187,177
- Health Care: $187,177
Business Information - Potter, Anderson & Corroon, LLP in Wilmington, DE
1313 North Market St. 6th Floor
Wilmington, DE 19806
Offices of Lawyers
NAICS code 541110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Wilmington
In the Wilmington area, 60 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 12 employees (compared to this company's 150) and received an average PPP loan of $174,955 (compared to this company's $2.25M).
Similar Nearby Businesses Who Received PPP Funding:
Murphy & Landon
Wilks, Lukoff & Bracegirdle, LLC
Hudson &Castle Law LLC
Allen Strategies LLC
Michael I. Silverman PA
The Yeager Law Firm LLC
Bartholomew J Dalton PA
Andrews & Springer LLC
Coggins Law LLC
Industry PPP Comparison Statistics
PPP recipients in this industry report an average of 6 employees, 96% lower than Potter, Anderson & Corroon, LLP's reported 150 employees, and received an average PPP loan of $81,518, 96% lower than this company's loan of $2.25M.
FederalPay's PPP Information Policy
Footnotes & Information
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