PPP Loan Data — Rennert Vogel Mandler & Rodriguez PA, Miami, FL
Rennert Vogel Mandler & Rodriguez PA is a corporation located at 100 Se 2 St Suite 2900 in Miami, Florida that received a Coronavirus-related PPP loan from the SBA of $1,740,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Horizon Bank
Rennert Vogel Mandler & Rodriguez PA in Miami, FL received a Paycheck Protection Loan of $1.74M through First Horizon 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 84. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Rennert Vogel Mandler & Rodriguez PA's 2019 payroll expenses are estimated to be at least $8.35M (not accounting for salary amounts > $100k).
Because the 62 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Rennert Vogel Mandler & Rodriguez PA reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,740,000
Business Information - Rennert Vogel Mandler & Rodriguez PA in Miami, FL
100 Se 2 St Suite 2900
Miami, FL 33131
Offices of Lawyers
NAICS code 541110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Miami
In the Miami area, 777 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 62) and received an average PPP loan of $115,900 (compared to this company's $1.74M).
Similar Nearby Businesses Who Received PPP Funding:
Meland Budwick PA
David S Mandel PA
Tapanes Law PA
Evan R Marbin & Assoc PA
Alexander Lian PA
Etan Mark PA
Dapeer Law, PA
Domingo G. De La Fuente PA
Caressa A. Lanier PA
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, 90% lower than Rennert Vogel Mandler & Rodriguez PA's reported 62 employees, and received an average PPP loan of $81,518, 95% lower than this company's loan of $1.74M.
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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