PPP Loan Data — Jacobo Akle Insurance Agency Inc, El Paso, TX
Jacobo Akle Insurance Agency Inc is a non-profit organization located at 6065 Montana Ave Ste C1 in El Paso, Texas that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
The company has reported itself as a male owned non-profit, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Jacobo Akle Insurance Agency Inc in El Paso, TX received a Paycheck Protection Loan of $25,000 through BBVA USA, 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 June, 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, Jacobo Akle Insurance Agency Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Jacobo Akle Insurance Agency Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Jacobo Akle Insurance Agency Inc in El Paso, TX
6065 Montana Ave Ste C1
El Paso, TX 79925
Direct Life Insurance Carriers
NAICS code 524113
Business Owner Demographics
Ethnicity: Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near El Paso
In the El Paso area, 6 businesses in the "Direct Life Insurance Carriers" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 4) and received an average PPP loan of $9,610 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
El Paso, TX
El Paso, TX
El Paso, TX
Industry PPP Comparison Statistics
Nationwide, 4,589 businesses in the "Direct Life Insurance Carriers" industry received a total of $147.14M 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 3 employees, 25% lower than Jacobo Akle Insurance Agency Inc's reported 4 employees, and received an average PPP loan of $32,063, 28% higher than this company's loan of $25,000.
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Footnotes & Information
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