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PPP Loan Data — Rachael N Toft DBA Law Offices Of Rachael Toft, Chicago, IL

SBA PPP loan data, payroll data, and salaries for Rachael N Toft DBA Law Offices Of Rachael Toft
IL

Rachael N Toft DBA Law Offices Of Rachael Toft

Entity: Sole Proprietorship

Industry: Offices of Lawyers

Location: Chicago, IL

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Rachael N Toft DBA Law Offices Of Rachael Toft is a sole proprietorship located in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $10,362.00 in May, 2020.

$ PPP Loan Information
Loan #1450647708

Loan Size:

$10,362

Jobs Retained:

1

Loan Approved:

2020-05-01

Loan Status:

Paid in Full or Forgiven

Lender:

JPMorgan Chase Bank, National Association

Rachael N Toft DBA Law Offices Of Rachael Toft in Chicago, IL received a Paycheck Protection Loan of $10,362 through JPMorgan Chase Bank, National Association, which was approved in May, 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 May, 2021.


PPP Calculation Note: The total PPP loan an eligible business or individual can receive is based on 2.5 times their average monthly 2019 payroll expenses, capped at $100,000 annually per employee.

Reported PPP Proceed Usage:

On the PPP application, Rachael N Toft DBA Law Offices Of Rachael Toft reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $9,427
  • Utilities: $259
  • Mortgage Interest: $260
  • Rent: $416

Business Information - Rachael N Toft DBA Law Offices Of Rachael Toft in Chicago, IL

Rachael N Toft DBA Law Offices Of Rachael Toft
Chicago, IL
* Full address is redacted to protect the privacy of individuals.

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

Cook County, IL — SBA Office 0507 — Congressional District: IL-07

Similar Companies near Chicago

In the Chicago area, 101 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 1) and received an average PPP loan of $225,851 (compared to this company's $10,362).

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 Rachael N Toft DBA Law Offices Of Rachael Toft's reported 1 employees, and received an average PPP loan of $81,518, 687% higher than this company's loan of $10,362.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/rachael-n-toft-dba-law-offices-of-rachael-toft-chicago-il