TN

ABC Insurance Group

Entity: Corporation

Industry: Insurance Agencies and Brokerages

Location: Nashville, TN

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ABC Insurance Group is a corporation located at 7009 Lenox Village Dr in Nashville, Tennessee that received a Coronavirus-related PPP loan from the SBA of $22,900.00 in May, 2020.

$ PPP Loan Information

ABC Insurance Group received a Paycheck Protection Loan of $22,900 through RELIANT BANK, which was approved in May, 2020.

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 0.

Based on standard PPP eligibility rules, ABC Insurance Group's total 2019 payroll expenses were approximately $109,920 in order to qualify for the PPP loan amount received.

Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $27,480 per employee¹.

Business Information - ABC Insurance Group in Nashville, TN

Similar Companies near Nashville

In the Nashville area, 32 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 23 employees (compared to this company's 4) and received an average PPP loan of $349,524 (compared to this company's $22,900).

Industry PPP Comparison Statistics

Nationwide, 90,958 businesses in the "Insurance Agencies and Brokerages" industry received a total of $4,494,836,388.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 4 employees, the same amount reported by ABC Insurance Group and received an average PPP loan of $49,417, 116% higher than this company's loan of $22,900.