PPP Loan Data — Carol Loew Insurance Services LLC, Wheeling, WV
Carol Loew Insurance Services LLC is a limited liability company (LLC) located at 95 Stamm Cir in Wheeling, West Virginia that received a Coronavirus-related PPP loan from the SBA of $25,220.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Carol Loew Insurance Services LLC in Wheeling, WV received a Paycheck Protection Loan of $25,220 through Community Bank, which was approved in May, 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 March, 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, Carol Loew Insurance Services LLC's 2019 payroll expenses are estimated to be at least $121,056.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,528 per employee1
Reported PPP Proceed Usage:
On the PPP application, Carol Loew Insurance Services LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,220
Business Information - Carol Loew Insurance Services LLC in Wheeling, WV
95 Stamm Cir
Wheeling, WV 26003
Direct Property and Casualty Insurance Carriers
NAICS code 524126
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Wheeling
In the Wheeling area, 6 businesses in the "Direct Property and Casualty Insurance Carriers" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 2) and received an average PPP loan of $16,187 (compared to this company's $25,220).
Similar Nearby Businesses Who Received PPP Funding:
Alex J Saseen
Irvine And Associates, Inc
Industry PPP Comparison Statistics
Nationwide, 5,686 businesses in the "Direct Property and Casualty Insurance Carriers" industry received a total of $400.58M 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 6 employees, 200% higher than Carol Loew Insurance Services LLC's reported 2 employees, and received an average PPP loan of $70,450, 179% higher than this company's loan of $25,220.
FederalPay's PPP Information Policy
Footnotes & Information
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