PPP Loan Data — Hansen Insurance Agency Inc, Eureka, CA
Hansen Insurance Agency Inc is a corporation located at 2107 3rd St in Eureka, California that received a Coronavirus-related PPP loan from the SBA of $22,600.00 in April, 2020.
$ PPP Loan Information
Lender:REDWOOD CAPITAL BANK
Hansen Insurance Agency Inc received a Paycheck Protection Loan of $22,600 through REDWOOD CAPITAL BANK, which was approved in April, 2020.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 0.
Based on standard PPP eligibility rules, Hansen Insurance Agency Inc's total 2019 payroll expenses were approximately $108,480 in order to qualify for the PPP loan amount received.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $36,160 per employee1.
Business Information - Hansen Insurance Agency Inc in Eureka, CA
2107 3rd St
Eureka, CA 95501
Insurance Agencies and Brokerages (NAICS code 524210)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: CA-02
Similar 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 3) and received an average PPP loan of $264,591 (compared to this company's $22,600).
Similar Nearby Businesses Who Received PPP Funding:
Stan Smith Insurance Services
Tim Storey Insurance
Gary Ogle Insurance Services, LLC
Shaw And Petersen INS Inc
Scott Hammond Insurance Services, Inc.
707 Jimenez Insurance Services LLC
George Petersen Insurance Agency Inc.
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, 33% higher than Hansen Insurance Agency Inc's reported 3 employees, and received an average PPP loan of $49,417, 119% higher than this company's loan of $22,600.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
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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