PPP Loan Data — Traub Lieberman Straus & Shrewsberry LLP, Hawthorne, NY
Traub Lieberman Straus & Shrewsberry LLP is a limited liability partnership located at 7 Skyline Dr Ste1 in Hawthorne, New York that received a Coronavirus-related PPP loan from the SBA of $3,390,462.00 in May, 2020.
$ PPP Loan Information
Lender:BANK OF AMERICA, NATIONAL ASSOCIATION
Traub Lieberman Straus & Shrewsberry LLP received a Paycheck Protection Loan of $3.39M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in May, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 108 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 163.
Based on standard PPP eligibility rules, Traub Lieberman Straus & Shrewsberry LLP's total 2019 payroll expenses were approximately $16.27M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 108 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Traub Lieberman Straus & Shrewsberry LLP in Hawthorne, NY
7 Skyline Dr Ste1
Hawthorne, NY 10532
Offices of Lawyers (NAICS code 541110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NY-17
Similar Companies near Hawthorne
In the Hawthorne area, 14 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 108) and received an average PPP loan of $272,372 (compared to this company's $3.39M).
Similar Nearby Businesses Who Received PPP Funding:
Elissa D Hecker
Doolan Platt & Setareh, LLP
Melinda G. Gordon
Ginsburg & Redmond PC
Aaron G Baily ESQ
Ivan A Saperstein PC
Raymond Solomon Attorney
Richard S Altman, PC
Kenneth M Bernstein, ESQ
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, 94% lower than Traub Lieberman Straus & Shrewsberry LLP's reported 108 employees, and received an average PPP loan of $94,010, 97% lower than this company's loan of $3.39M.
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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