PPP Loan Data — Discovery Enterprises Insurance Agency Inc, Doral, FL
Discovery Enterprises Insurance Agency Inc is a corporation located at 10733 Northwest 58th Street in Doral, Florida that received a Coronavirus-related PPP loan from the SBA of $25,334.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
Discovery Enterprises Insurance Agency Inc in Doral, FL received a Paycheck Protection Loan of $25,334 through Cross River Bank, which was approved in May, 2020.
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, Discovery Enterprises Insurance Agency Inc's 2019 payroll expenses are estimated to be at least $121,603.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,401 per employee1
Reported PPP Proceed Usage:
On the PPP application, Discovery Enterprises Insurance Agency Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,334
Business Information - Discovery Enterprises Insurance Agency Inc in Doral, FL
10733 Northwest 58th Street
Doral, FL 33178
Insurance Agencies and Brokerages
NAICS code 524210
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Doral
In the Doral area, 212 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 4) and received an average PPP loan of $17,248 (compared to this company's $25,334).
Similar Nearby Businesses Who Received PPP Funding:
Gleybis Muniz Valle
Cesar R Lopez
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, the same amount reported by Discovery Enterprises Insurance Agency Inc and received an average PPP loan of $39,254, 55% higher than this company's loan of $25,334.
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Footnotes & Information
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