PPP Loan Data — The Law Firm Of Waldo & Lyle, A Professional Corporation, Norfolk, VA
The Law Firm Of Waldo & Lyle, A Professional Corporation is a subchapter s corporation located at 301 W Freemason St in Norfolk, Virginia that received a Coronavirus-related PPP loan from the SBA of $214,600.00 in April, 2020.
$ PPP Loan Information
Lender:ATLANTIC UNION BANK
The Law Firm Of Waldo & Lyle, A Professional Corporation received a Paycheck Protection Loan of $214,600 through ATLANTIC UNION BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, The Law Firm Of Waldo & Lyle, A Professional Corporation's total 2019 payroll expenses were approximately $1.03M in order to qualify for the PPP loan amount received.
Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $93,644 per employee1.
Business Information - The Law Firm Of Waldo & Lyle, A Professional Corporation in Norfolk, VA
301 W Freemason St
Norfolk, VA 23510
Offices of Lawyers (NAICS code 541110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: VA-03
Similar Companies near Norfolk
In the Norfolk area, 59 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 11) and received an average PPP loan of $225,790 (compared to this company's $214,600).
Similar Nearby Businesses Who Received PPP Funding:
Eugene W. Shannon, Plc
Harold E Bell PC
Rice & Gregg, Inc.
Pete Zemanian, PLLC
Erick A. Bowman, Inc.
Joseph C Lindsey, PC
Protogyrou Law, P.L.C.
Decker Management LLC
Crenshaw, Ware & Martin, P.L.C.
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, 45% lower than The Law Firm Of Waldo & Lyle, A Professional Corporation's reported 11 employees, and received an average PPP loan of $94,010, 56% lower than this company's loan of $214,600.
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. 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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