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PPP Loan Data — Fred A Moreton & Company,
Salt Lake City, UT
Fred A Moreton & Company
Entity: Corporation
Industry: Insurance Agencies and Brokerages
Location: Salt Lake City, UT
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Fred A Moreton & Company is a corporation located at 101 S 200 E in Salt Lake City, Utah that received a Coronavirus-related PPP loan from the SBA of $4,619,000.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
232Loan Approved:
2020-04-15Lender:
BANK OF UTAHFred A Moreton & Company in Salt Lake City, UT received a Paycheck Protection Loan of $4.62M through BANK OF UTAH, which was approved in April, 2020.
Based on standard PPP eligibility rules, Fred A Moreton & Company's total 2019 payroll expenses were approximately $22.17M in order to qualify for the PPP loan amount received.
Based on their reported 232 jobs retained, this equals an estimated average yearly compensation of $95,566 per employee1.
Business Information - Fred A Moreton & Company in Salt Lake City, UT
101 S 200 E
Salt Lake City, UT 84111
Business Industry
Insurance Agencies and Brokerages (NAICS code 524210)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: UT-02Similar Companies near Salt Lake City
In the Salt Lake City area, 14 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 232) and received an average PPP loan of $472,684 (compared to this company's $4.62M).
Similar Nearby Businesses Who Received PPP Funding:
The Burgess Group Inc
Salt Lake City, UT
Cinthya Molina Insurance Agency LLC
Salt Lake City, UT
This Uptown Girl LLC
Salt Lake City, UT
Vicki Tuua Insurance Agency Inc
Salt Lake City, UT
Kevin D Samuelson
Salt Lake City, UT
Oberle Financial Group, LLC
Salt Lake City, UT
Royal Alliance Associates
Salt Lake Cty, UT
H Squared, LLC
Salt Lake City, UT
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, 98% lower than Fred A Moreton & Company's reported 232 employees, and received an average PPP loan of $49,417, 99% lower than this company's loan of $4.62M.
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, and is published unmodified, as provided by the SBA.
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.
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