PPP Loan Data — Rapier Law Firm, Naperville, IL
Rapier Law Firm is a sole proprietorship located in Naperville, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Midwest Bank
Rapier Law Firm in Naperville, IL received a Paycheck Protection Loan of $25,000 through First Midwest Bank, 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, Rapier Law Firm reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Rapier Law Firm in Naperville, IL
* Full address is redacted to protect the privacy of individuals.
Legal Counsel and Prosecution
NAICS code 922130
Business Owner Demographics
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Naperville
In the Naperville area, 5 businesses in the "Legal Counsel and Prosecution" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 1) and received an average PPP loan of $29,094 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Heitz & Bromberek, LTD
The Law Offices Of Konrad Sherinian, LLC
James P. Greene And Associates
Industry PPP Comparison Statistics
Nationwide, 9,119 businesses in the "Legal Counsel and Prosecution" industry received a total of $556.3M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 4 employees, 300% higher than Rapier Law Firm's reported 1 employees, and received an average PPP loan of $61,005, 144% higher than this company's loan of $25,000.
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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