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PPP Loan Data — Ward & Smith PA, New Bern, NC

SBA PPP loan data, payroll data, and salaries for Ward & Smith PA
NC

Ward & Smith PA

Entity: Professional Association

Industry: Offices of Lawyers

Location: New Bern, NC

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Ward & Smith PA is a professional association located at 1001 College Ct in New Bern, North Carolina that received a Coronavirus-related PPP loan from the SBA of $3,476,600.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.48M

Jobs Retained:

212

Loan Approved:

2020-04-05

Lender:

DOGWOOD STATE BANK

Ward & Smith PA received a Paycheck Protection Loan of $3.48M through DOGWOOD STATE BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Ward & Smith PA's total 2019 payroll expenses were approximately $16.69M in order to qualify for the PPP loan amount received.

Based on their reported 212 jobs retained, this equals an estimated average yearly compensation of $78,715 per employee1.

Because the loan received by Ward & Smith PA 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 - Ward & Smith PA in New Bern, NC

Ward & Smith PA
1001 College Ct
New Bern, NC 28562

Business Industry

Offices of Lawyers (NAICS code 541110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NC-03

Similar Companies near New Bern

In the New Bern area, 11 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 23 employees (compared to this company's 212) and received an average PPP loan of $363,336 (compared to this company's $3.48M).

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, 97% lower than Ward & Smith PA's reported 212 employees, and received an average PPP loan of $94,010, 97% lower than this company's loan of $3.48M.

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.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/ward-and-smith-pa-new-bern-nc