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PPP Loan Data — Reid Law Firm PLLC, Des Moines, IA

SBA PPP loan data, payroll data, and salaries for Reid Law Firm PLLC
IA

Reid Law Firm PLLC

Entity: Subchapter S Corporation

Industry: Offices of Lawyers

Location: Des Moines, IA

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Reid Law Firm PLLC is a subchapter s corporation located at 300 Walnut St in Des Moines, Iowa that received a Coronavirus-related PPP loan from the SBA of $31,800.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least two people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$31,800

Jobs Retained:

2

Loan Approved:

2020-04-06

Lender:

IOWA STATE BANK

Reid Law Firm PLLC received a Paycheck Protection Loan of $31,800 through IOWA STATE BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Reid Law Firm PLLC's total 2019 payroll expenses were approximately $152,640 in order to qualify for the PPP loan amount received.

Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $76,320 per employee1.

Business Information - Reid Law Firm PLLC in Des Moines, IA

Reid Law Firm PLLC
300 Walnut St
Des Moines, IA 50309

Business Industry

Offices of Lawyers (NAICS code 541110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: IA-03

Similar Companies near Des Moines

In the Des Moines area, 62 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 15 employees (compared to this company's 2) and received an average PPP loan of $317,090 (compared to this company's $31,800).

Industry PPP Comparison Statistics

Nationwide, 126,779 businesses in the "Offices of Lawyers" industry received a total of $11,918,471,350.00 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, 200% higher than Reid Law Firm PLLC's reported 2 employees, and received an average PPP loan of $94,010, 196% higher than this company's loan of $31,800.

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.

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Footnotes & Information

1. 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/reid-law-firm-pllc-des-moines-ia