PPP Loan Data — Donges Bay Insurance Agency Inc, Milwaukee, WI
Donges Bay Insurance Agency Inc is a subchapter s corporation located at 4531 N Ardmore Ave in Milwaukee, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $25,218.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Midwest Bank
Donges Bay Insurance Agency Inc in Milwaukee, WI received a Paycheck Protection Loan of $25,218 through First Midwest Bank, 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, Donges Bay Insurance Agency Inc's 2019 payroll expenses are estimated to be at least $121,046.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,523 per employee1
Reported PPP Proceed Usage:
On the PPP application, Donges Bay Insurance Agency Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,218
Business Information - Donges Bay Insurance Agency Inc in Milwaukee, WI
4531 N Ardmore Ave
Milwaukee, WI 53211
Insurance Agencies and Brokerages
NAICS code 524210
Business Owner Demographics
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Milwaukee
In the Milwaukee area, 29 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 2) and received an average PPP loan of $24,397 (compared to this company's $25,218).
Similar Nearby Businesses Who Received PPP Funding:
Robert J Adams Insurance Services LLC
Gramoll & Associates Inc
Mccabe Insurance Agency LLC
HNL Rebholz LLC
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, 100% higher than Donges Bay Insurance Agency Inc's reported 2 employees, and received an average PPP loan of $39,254, 56% higher than this company's loan of $25,218.
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Footnotes & Information
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