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PPP Loan Data — Brown And Riding Insurance Services, Inc., Los Angeles, CA

SBA PPP loan data, payroll data, and salaries for Brown And Riding Insurance Services, Inc.
CA

Brown And Riding Insurance Services, Inc.

Entity: Corporation

Industry: Insurance Agencies and Brokerages

Location: Los Angeles, CA

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Brown And Riding Insurance Services, Inc. is a corporation located at 777 South Figueroa Street in Los Angeles, California that received a Coronavirus-related PPP loan from the SBA of $4,430,500.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.43M

Jobs Retained:

282

Loan Approved:

2020-04-27

Lender:

PACIFIC WESTERN BANK

Brown And Riding Insurance Services, Inc. received a Paycheck Protection Loan of $4.43M through PACIFIC WESTERN BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Brown And Riding Insurance Services, Inc.'s total 2019 payroll expenses were approximately $21.27M in order to qualify for the PPP loan amount received.

Based on their reported 282 jobs retained, this equals an estimated average yearly compensation of $75,413 per employee1.

Because the loan received by Brown And Riding Insurance Services, Inc. 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 - Brown And Riding Insurance Services, Inc. in Los Angeles, CA

Brown And Riding Insurance Services, Inc.
777 South Figueroa Street
Los Angeles, CA 90004

Business Industry

Insurance Agencies and Brokerages (NAICS code 524210)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CA-34

Similar Companies near Los Angeles

In the Los Angeles area, 24 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 282) and received an average PPP loan of $206,065 (compared to this company's $4.43M).

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, 99% lower than Brown And Riding Insurance Services, Inc.'s reported 282 employees, and received an average PPP loan of $49,417, 99% lower than this company's loan of $4.43M.

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.

Search FederalPay's Full PPP Loan Database

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/brown-and-riding-insurance-services-inc-los-angeles-ca