PPP Loan Data — Canty Insurance Services Inc, Jacksonville, FL
Canty Insurance Services Inc is a corporation located at 4765 Hodges Blvd Ste #9 in Jacksonville, Florida that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Canty Insurance Services Inc in Jacksonville, FL received a Paycheck Protection Loan of $25,000 through VyStar CU, which was approved in April, 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
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, Canty Insurance Services Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Canty Insurance Services Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Canty Insurance Services Inc in Jacksonville, FL
4765 Hodges Blvd Ste #9
Jacksonville, FL 32224
General Line Grocery Merchant Wholesalers
NAICS code 424410
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Jacksonville
In the Jacksonville area, 84 businesses in the "General Line Grocery Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 5) and received an average PPP loan of $37,446 (compared to this company's $25,000).
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Industry PPP Comparison Statistics
Nationwide, 6,428 businesses in the "General Line Grocery Merchant Wholesalers" industry received a total of $753.1M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 13 employees, 160% higher than Canty Insurance Services Inc's reported 5 employees, and received an average PPP loan of $117,159, 369% higher than this company's loan of $25,000.
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Footnotes & Information
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