PPP Loan Data — Davidson Insurance Agency, Inc, Dothan, AL
Davidson Insurance Agency, Inc is a limited liability company (LLC) located at 2603 Chocaw Street in Dothan, Alabama that received a Coronavirus-related PPP loan from the SBA of $25,231.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Troy Bank & Trust Company
Davidson Insurance Agency, Inc in Dothan, AL received a Paycheck Protection Loan of $25,231 through Troy Bank & Trust Company, 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, Davidson Insurance Agency, Inc's 2019 payroll expenses are estimated to be at least $121,109.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,222 per employee1
Reported PPP Proceed Usage:
On the PPP application, Davidson Insurance Agency, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $20,185
- Utilities: $1,200
- Rent: $3,846
Business Information - Davidson Insurance Agency, Inc in Dothan, AL
2603 Chocaw Street
Dothan, AL 36303
Insurance Agencies and Brokerages
NAICS code 524210
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Dothan
In the Dothan area, 22 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 5) and received an average PPP loan of $25,217 (compared to this company's $25,231).
Similar Nearby Businesses Who Received PPP Funding:
The Shawn Smith Agency, Inc
Jones Insurance Agency, Inc
Insurance Center Of The Southe
Dean Culbreth Insurance Agenciy LLC
Jonathan Brooks Agency LLC
Christopher Brooks LLC
Rachel L. Davidson Inc
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, 20% lower than Davidson Insurance Agency, Inc's reported 5 employees, and received an average PPP loan of $39,254, 56% higher than this company's loan of $25,231.
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Footnotes & Information
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