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PPP Loan Data — Brittani Morris Insurance And Financial Services, Inc, Alabaster, AL

SBA PPP loan data, payroll data, and salaries for Brittani Morris Insurance And Financial Services, Inc
AL

Brittani Morris Insurance And Financial Services, Inc

Entity: Subchapter S Corporation

Industry: Insurance Agencies and Brokerages

Location: Alabaster, AL

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Brittani Morris Insurance And Financial Services, Inc is a subchapter s corporation located at 100 Colonial Promenade Pkwy Suite 600 in Alabaster, Alabama that received a Coronavirus-related PPP loan from the SBA of $25,037.00 in June, 2020.

The company has reported itself as a White female owned business, and employed at least four people during the applicable loan loan period.

$ PPP Loan Information
Loan #2190977906

Loan Size:

$25,037

Jobs Retained:

4

Loan Approved:

2020-06-11

Loan Status:

Paid in Full or Forgiven

Lender:

Central State Bank

Brittani Morris Insurance And Financial Services, Inc in Alabaster, AL received a Paycheck Protection Loan of $25,037 through Central State Bank, which was approved in June, 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 February, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Brittani Morris Insurance And Financial Services, Inc's 2019 payroll expenses are estimated to be at least $120,178.

Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,045 per employee1

Reported PPP Proceed Usage:

On the PPP application, Brittani Morris Insurance And Financial Services, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $25,037

Business Information - Brittani Morris Insurance And Financial Services, Inc in Alabaster, AL

Brittani Morris Insurance And Financial Services, Inc
100 Colonial Promenade Pkwy Suite 600
Alabaster, AL 35007

Business Industry:
Insurance Agencies and Brokerages
NAICS code 524210

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Female Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Shelby County, AL — SBA Office 0459 — Congressional District: AL-06

Similar Companies near Alabaster

In the Alabaster area, 10 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 4) and received an average PPP loan of $20,707 (compared to this company's $25,037).

Industry PPP Comparison Statistics

Nationwide, 149,532 businesses in the "Insurance Agencies and Brokerages" industry received a total of $5.87B in PPP loans. These businesses account for 1% 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 Brittani Morris Insurance And Financial Services, Inc and received an average PPP loan of $39,254, 57% higher than this company's loan of $25,037.

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.


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Source: www.federalpay.org/paycheck-protection-program/brittani-morris-insurance-and-financial-services-inc-alabaster-al