PPP Loan Data — Hale, Inc, Baltimore, MD
Hale, Inc is a corporation located at 3552 Roland Ave in Baltimore, Maryland that received a Coronavirus-related PPP loan from the SBA of $25,427.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Hale, Inc in Baltimore, MD received a Paycheck Protection Loan of $25,427 through JPMorgan Chase Bank, National Association, 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, Hale, Inc's 2019 payroll expenses are estimated to be at least $122,050.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $61,025 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hale, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,427
Business Information - Hale, Inc in Baltimore, MD
3552 Roland Ave
Baltimore, MD 21211
Insurance Agencies and Brokerages
NAICS code 524210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Baltimore
In the Baltimore area, 14 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 $25,843 (compared to this company's $25,427).
Similar Nearby Businesses Who Received PPP Funding:
Garvey Insurance & Financial
The Bedford Group Inc
Henry B. Thomas
Great Oak Insurance Group, LLC
Anthony Walker Insurance Agency Inc
White Oak Wealth
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 Hale, Inc's reported 2 employees, and received an average PPP loan of $39,254, 54% higher than this company's loan of $25,427.
FederalPay's PPP Information Policy
Footnotes & Information
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