PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Compsource Mutual Insurance Company, Oklahoma City, OK

SBA PPP loan data, payroll data, and salaries for Compsource Mutual Insurance Company
OK

Compsource Mutual Insurance Company

Entity: Corporation

Industry: Insurance Agencies and Brokerages

Location: Oklahoma City, OK

Search All PPP Data

Compsource Mutual Insurance Company is a corporation located at 1901 N Walnut in Oklahoma City, Oklahoma that received a Coronavirus-related PPP loan from the SBA of $5,430,900.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$5.43M

Jobs Retained:

289

Loan Approved:

2020-04-06

Lender:

BANCFIRST

Compsource Mutual Insurance Company received a Paycheck Protection Loan of $5.43M through BANCFIRST, which was approved in April, 2020.

Based on standard PPP eligibility rules, Compsource Mutual Insurance Company's total 2019 payroll expenses were approximately $26.07M in order to qualify for the PPP loan amount received.

Based on their reported 289 jobs retained, this equals an estimated average yearly compensation of $90,202 per employee1.

Because the loan received by Compsource Mutual Insurance Company 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 - Compsource Mutual Insurance Company in Oklahoma City, OK

Compsource Mutual Insurance Company
1901 N Walnut
Oklahoma City, OK 73105

Business Industry

Insurance Agencies and Brokerages (NAICS code 524210)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: OK-05

Similar Companies near Oklahoma City

In the Oklahoma City area, 8 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 43 employees (compared to this company's 289) and received an average PPP loan of $756,125 (compared to this company's $5.43M).

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 Compsource Mutual Insurance Company's reported 289 employees, and received an average PPP loan of $49,417, 99% lower than this company's loan of $5.43M.

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.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/compsource-mutual-insurance-company-oklahoma-city-ok