PPP Loan Data — Volpe And Koenig PC, Philadelphia, PA
Volpe And Koenig PC is a corporation located at 30 South 17th Street, 18th Floor in Philadelphia, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $1,970,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Univest Bank and Trust Co.
Volpe And Koenig PC in Philadelphia, PA received a Paycheck Protection Loan of $1.97M through Univest Bank and 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, Volpe And Koenig PC's 2019 payroll expenses are estimated to be at least $9.46M.
Based on their reported 99 jobs retained, this equals an estimated average yearly compensation of $95,515 per employee1
Reported PPP Proceed Usage:
On the PPP application, Volpe And Koenig PC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,970,000
Business Information - Volpe And Koenig PC in Philadelphia, PA
30 South 17th Street, 18th Floor
Philadelphia, PA 19103
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 Philadelphia
In the Philadelphia area, 724 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 15 employees (compared to this company's 99) and received an average PPP loan of $252,216 (compared to this company's $1.97M).
Similar Nearby Businesses Who Received PPP Funding:
Reilly Education Law LLC
Laffey Bucci & Kent LLP
Boonswang Law Firm
Law Office Of Leon Aussprung MD, LLC
Spivack & Spivack, LLC
Sweeney & Sheehan, PC
Gerald S Segal & Associates PC
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, 94% lower than Volpe And Koenig PC's reported 99 employees, and received an average PPP loan of $81,518, 96% lower than this company's loan of $1.97M.
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Footnotes & Information
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