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PPP Loan Data — George Petersen Insurance Agency Inc.,
Eureka, CA
George Petersen Insurance Agency Inc.
Entity: Corporation
Industry: Insurance Agencies and Brokerages
Location: Eureka, CA
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George Petersen Insurance Agency Inc. is a corporation located at 416 E Street in Eureka, California that received a Coronavirus-related PPP loan from the SBA of $2,785,000.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
180Loan Approved:
2020-04-10Lender:
UMPQUA BANKGeorge Petersen Insurance Agency Inc. in Eureka, CA received a Paycheck Protection Loan of $2.79M through UMPQUA BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, George Petersen Insurance Agency Inc.'s total 2019 payroll expenses were approximately $13.37M in order to qualify for the PPP loan amount received.
Based on their reported 180 jobs retained, this equals an estimated average yearly compensation of $74,267 per employee1.
Business Information - George Petersen Insurance Agency Inc. in Eureka, CA
416 E Street
Eureka, CA 95501
Business Industry
Insurance Agencies and Brokerages (NAICS code 524210)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: CA-02Similar Companies near Eureka
In the Eureka area, 12 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 18 employees (compared to this company's 180) and received an average PPP loan of $264,591 (compared to this company's $2.79M).
Similar Nearby Businesses Who Received PPP Funding:
Scott Hammond Insurance Services, Inc.
Eureka, CA
Shaw And Petersen INS Inc
Eureka, CA
Tim Storey Insurance
Eureka, CA
707 Jimenez Insurance Services LLC
Eureka, CA
Lisa Fryrear Insurance Agency Inc
Eureka, CA
Hansen Insurance Agency Inc
Eureka, CA
Stan Smith Insurance Services
Eureka, CA
Six Rivers Insurance Services, LLC
Eureka, CA
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 George Petersen Insurance Agency Inc.'s reported 180 employees, and received an average PPP loan of $49,417, 98% lower than this company's loan of $2.79M.
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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