PPP Loan Data — Sites & Harbison PLLC, Louisville, KY
Sites & Harbison PLLC is a partnership located at 400 West Market Street Suite 1800 in Louisville, Kentucky that received a Coronavirus-related PPP loan from the SBA of $3,414,100.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Sites & Harbison PLLC in Louisville, KY received a Paycheck Protection Loan of $3.41M through Truist Bank d/b/a Branch Banking & Trust Co, 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, Sites & Harbison PLLC's 2019 payroll expenses are estimated to be at least $16.39M.
Based on their reported 300 jobs retained, this equals an estimated average yearly compensation of $54,626 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sites & Harbison PLLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,414,100
Business Information - Sites & Harbison PLLC in Louisville, KY
400 West Market Street Suite 1800
Louisville, KY 40202
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 Louisville
In the Louisville area, 277 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 300) and received an average PPP loan of $116,262 (compared to this company's $3.41M).
Similar Nearby Businesses Who Received PPP Funding:
Richard Meena Jr
Ethan T. Manning Law Office, LLC
Mason Trenaman, Sr. Attorney
Middleton & Reutlinger Psc
J Gregory Clare Attorney At Law
Daniel M. Oyler, Attorney
Bruce A. Brightwell, Attorney
Industry PPP Comparison Statistics
Nationwide, 190,619 businesses in the "Offices of Lawyers" industry received a total of $16.02B 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, 98% lower than Sites & Harbison PLLC's reported 300 employees, and received an average PPP loan of $84,053, 98% lower than this company's loan of $3.41M.
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.
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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