PPP Loan Data — Warner & Warner PLLC, Albany, NY
Warner & Warner PLLC is a partnership located at 6 Automation Ln Ste 109 in Albany, New York that received a Coronavirus-related PPP loan from the SBA of $47,000.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Citizens Bank, National Association
Warner & Warner PLLC in Albany, NY received a Paycheck Protection Loan of $47,000 through Citizens Bank, National Association, which was approved in January, 2021.
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, Warner & Warner PLLC's 2019 payroll expenses are estimated to be at least $225,600.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $75,200 per employee1
Reported PPP Proceed Usage:
On the PPP application, Warner & Warner PLLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,997
Business Information - Warner & Warner PLLC in Albany, NY
6 Automation Ln Ste 109
Albany, NY 12205
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 Albany
In the Albany area, 79 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 3) and received an average PPP loan of $130,321 (compared to this company's $47,000).
Similar Nearby Businesses Who Received PPP Funding:
Burke Scolamiero & Hurd LLP
The Towne Law Firm PC
Mazzotta & Vagianelis, PC
Warner And Warner, PLLC
The Shevy Law Firm, LLC
Frank A. Catalano
Tully Rinkey America Service Corporation
Smith Dominelli Guetti LLC
Laclair& Deluca PLLC
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, 100% higher than Warner & Warner PLLC's reported 3 employees, and received an average PPP loan of $81,518, 73% higher than this company's loan of $47,000.
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Footnotes & Information
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