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

PPP Loan Data — Vector IP Law Group PLLC, Washington, DC

ALERT: There are 2 PPP loans for a total of $41,965 in our database for businesses with the name "Vector IP Law Group PLLC" in Washington, DC. 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 Vector IP Law Group PLLC
DC

Vector IP Law Group PLLC

Entity: Limited Liability Company (LLC)

Industry: Offices of Lawyers

Location: Washington, DC

Search All PPP Data

Vector IP Law Group PLLC is a limited liability company (LLC) located in Washington, District of Columbia that received a Coronavirus-related PPP loan from the SBA of $20,982.00 in February, 2021.

The company has reported itself as a male owned business, and employed at least one person during the applicable loan loan period.

$ PPP Loan Information
Loan #5402038506

Loan Size:

$20,982

Jobs Retained:

1

Loan Approved:

2021-02-27

Loan Status:

Ongoing Loan

Lender:

Bank of America, National Association
Likely Employment Reduction3

Vector IP Law Group PLLC in Washington, DC received a Paycheck Protection Loan of $20,982 through Bank of America, National Association, which was approved in February, 2021.

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.

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 1 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.

The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.


PPP Calculation Note: The total PPP loan an eligible business or individual can receive is based on 2.5 times their average monthly 2019 payroll expenses, capped at $100,000 annually per employee.

Reported PPP Proceed Usage:

On the PPP application, Vector IP Law Group PLLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $20,980
  • Utilities: $1

Business Information - Vector IP Law Group PLLC in Washington, DC

Vector IP Law Group PLLC
Washington, DC
* Full address is redacted to protect the privacy of individuals.

Business Industry:
Offices of Lawyers
NAICS code 541110

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

District Of Columbia County, DC — SBA Office 0353 — Congressional District: DC-

Similar Companies near Washington

In the Washington area, 292 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 1) and received an average PPP loan of $184,678 (compared to this company's $20,982).

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, 500% higher than Vector IP Law Group PLLC's reported 1 employees, and received an average PPP loan of $81,518, 289% higher than this company's loan of $20,982.

SBA PPP loan data, payroll data, and salaries for Vector IP Law Group PLLC
DC

Vector IP Law Group PLLC

Entity: Limited Liability Company (LLC)

Industry: Offices of Lawyers

Location: Washington, DC

Search All PPP Data

Vector IP Law Group PLLC is a limited liability company (LLC) located in Washington, District of Columbia that received a Coronavirus-related PPP loan from the SBA of $20,983.00 in May, 2020.

The company has reported itself as a male owned business, and employed at least one person during the applicable loan loan period.

$ PPP Loan Information
Loan #8054357410

Loan Size:

$20,983

Jobs Retained:

1

Loan Approved:

2020-05-18

Loan Status:

Paid in Full or Forgiven

Lender:

Bank of America, National Association
Likely Employment Reduction3

Vector IP Law Group PLLC in Washington, DC received a Paycheck Protection Loan of $20,983 through Bank of America, National Association, which was approved in May, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in April, 2021.

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 1 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.

The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.


PPP Calculation Note: The total PPP loan an eligible business or individual can receive is based on 2.5 times their average monthly 2019 payroll expenses, capped at $100,000 annually per employee.

Reported PPP Proceed Usage:

On the PPP application, Vector IP Law Group PLLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $20,983

Business Information - Vector IP Law Group PLLC in Washington, DC

Vector IP Law Group PLLC
Washington, DC
* Full address is redacted to protect the privacy of individuals.

Business Industry:
Offices of Lawyers
NAICS code 541110

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

District Of Columbia County, DC — SBA Office 0353 — Congressional District: DC-

Similar Companies near Washington

In the Washington area, 292 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 1) and received an average PPP loan of $184,678 (compared to this company's $20,983).

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, 500% higher than Vector IP Law Group PLLC's reported 1 employees, and received an average PPP loan of $81,518, 288% higher than this company's loan of $20,983.

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.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/vector-ip-law-group-pllc-washington-dc