PPP Loan Data — Insure Midwest LLC, Leawood, KS
Insure Midwest LLC is a limited liability company (LLC) located at 4400 College Blvd Ste 190 in Leawood, Kansas that received a Coronavirus-related PPP loan from the SBA of $25,100.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Insure Midwest LLC in Leawood, KS received a Paycheck Protection Loan of $25,100 through CrossFirst 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 January, 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, Insure Midwest LLC's 2019 payroll expenses are estimated to be at least $120,480.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,240 per employee1
Reported PPP Proceed Usage:
On the PPP application, Insure Midwest LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,100
Business Information - Insure Midwest LLC in Leawood, KS
4400 College Blvd Ste 190
Leawood, KS 66211
Small Electrical Appliance Manufacturing
NAICS code 335210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 467 businesses in the "Small Electrical Appliance Manufacturing" industry received a total of $49.62M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 11 employees, 450% higher than Insure Midwest LLC's reported 2 employees, and received an average PPP loan of $106,255, 323% higher than this company's loan of $25,100.
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Footnotes & Information
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