PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — The Gori Law Firm PC, Edwardsville, IL

ALERT: There are 2 PPP loans for a total of $4.3M in our database for businesses with the name "The Gori Law Firm PC" in Edwardsville, IL. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for The Gori Law Firm PC
IL

The Gori Law Firm PC

Entity: Corporation

Industry: Offices of Lawyers

Location: Edwardsville, IL

Search All PPP Data

The Gori Law Firm PC is a corporation located at 156 N Main St in Edwardsville, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.

The company has reported itself as a female owned business, and employed at least 189 people during the applicable loan loan period.

$ PPP Loan Information Loan #1617768610

Loan Size:

$2M
PPP Funds Undisbursed

Jobs Retained:

189

Loan Approved:

2021-03-13

Loan Status:

Active Un-Disbursed

Lender:

Signature Bank

The Gori Law Firm PC in Edwardsville, IL received a Paycheck Protection Loan of $2M through Signature Bank, which was approved in March, 2021.

While this loan has been approved by the Small Business Administration, the lender has not reported to the SBA that the loan funds were disbursed to the borrower. According to SBA records, a total of $2M in approved PPP funding has not been disbursed. The loan's status was last updated by the SBA in March, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, The Gori Law Firm PC's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 189 jobs retained, this equals an estimated average yearly compensation of $50,794 per employee1

Reported PPP Proceed Usage:

On the PPP application, The Gori Law Firm PC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,000,000
Because the loan received by The Gori Law Firm PC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - The Gori Law Firm PC in Edwardsville, IL

The Gori Law Firm PC
156 N Main St
Edwardsville, IL 62025

Business Industry:
Offices of Lawyers
NAICS code 541110

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Female Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Madison County, IL — SBA Office 0507 — Congressional District: IL-15

Similar Companies near Edwardsville

In the Edwardsville area, 68 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 16 employees (compared to this company's 189) and received an average PPP loan of $240,648 (compared to this company's $2M).

Industry PPP Comparison Statistics

Nationwide, 192,342 businesses in the "Offices of Lawyers" industry received a total of $16,007,114,402.00 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, 97% lower than The Gori Law Firm PC's reported 189 employees, and received an average PPP loan of $83,222, 96% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for The Gori Law Firm, PC
IL

The Gori Law Firm, PC

Entity: Corporation

Industry: Offices of Lawyers

Location: Edwardsville, IL

Search All PPP Data

The Gori Law Firm, PC is a corporation located at 156 North Main St in Edwardsville, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,304,000.00 in April, 2020.

The company has reported itself as a female owned business, and employed at least 194 people during the applicable loan loan period.

$ PPP Loan Information Loan #4365287009

Loan Size:

$2.3M

Jobs Retained:

194

Loan Approved:

2020-04-03

Loan Status:

Ongoing Loan

Lender:

Signature Bank

The Gori Law Firm, PC in Edwardsville, IL received a Paycheck Protection Loan of $2.3M through Signature Bank, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, The Gori Law Firm, PC's 2019 payroll expenses are estimated to be at least $11.06M.

Based on their reported 194 jobs retained, this equals an estimated average yearly compensation of $57,006 per employee1

Reported PPP Proceed Usage:

On the PPP application, The Gori Law Firm, PC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,304,000
Because the loan received by The Gori Law Firm, PC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - The Gori Law Firm, PC in Edwardsville, IL

The Gori Law Firm, PC
156 North Main St
Edwardsville, IL 62025

Business Industry:
Offices of Lawyers
NAICS code 541110

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Female Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Madison County, IL — SBA Office 0507 — Congressional District: IL-15

Similar Companies near Edwardsville

In the Edwardsville area, 68 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 16 employees (compared to this company's 194) and received an average PPP loan of $240,648 (compared to this company's $2.3M).

Industry PPP Comparison Statistics

Nationwide, 192,342 businesses in the "Offices of Lawyers" industry received a total of $16,007,114,402.00 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, 97% lower than The Gori Law Firm, PC's reported 194 employees, and received an average PPP loan of $83,222, 96% lower than this company's loan of $2.3M.

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/the-gori-law-firm-pc-edwardsville-il