PPP Loan Data — Seth E Coen P C, Brooklyn, NY
Seth E Coen P C is a subchapter s corporation located at 7703 5th Avenue in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $25,500.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Seth E Coen P C in Brooklyn, NY received a Paycheck Protection Loan of $25,500 through Signature Bank, 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, Seth E Coen P C's 2019 payroll expenses are estimated to be at least $122,400.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $61,200 per employee1
Reported PPP Proceed Usage:
On the PPP application, Seth E Coen P C reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,500
Business Information - Seth E Coen P C in Brooklyn, NY
7703 5th Avenue
Brooklyn, NY 11209
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 Brooklyn
In the Brooklyn area, 76 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 2) and received an average PPP loan of $66,919 (compared to this company's $25,500).
Similar Nearby Businesses Who Received PPP Funding:
Pavlounis & Sfouggatakis LLP
Chirico Law PLLC
Steven A Saporito, ESQ
The Villani Law Group, PLLC
Letter Grade Consulting Inc
Ursula A. Gangemi, ESQ
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, 200% higher than Seth E Coen P C's reported 2 employees, and received an average PPP loan of $81,518, 220% higher than this company's loan of $25,500.
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Footnotes & Information
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