PPP Loan Data — Jake Squires Insurance And Financial Services Inc, Bellingham, WA
Jake Squires Insurance And Financial Services Inc is a professional association located at 820 Alabama St in Bellingham, Washington that received a Coronavirus-related PPP loan from the SBA of $25,485.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Jake Squires Insurance And Financial Services Inc in Bellingham, WA received a Paycheck Protection Loan of $25,485 through Bank of America, National Association, which was approved in May, 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 April, 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, Jake Squires Insurance And Financial Services Inc's 2019 payroll expenses are estimated to be at least $122,328.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,582 per employee1
Reported PPP Proceed Usage:
On the PPP application, Jake Squires Insurance And Financial Services Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,485
Business Information - Jake Squires Insurance And Financial Services Inc in Bellingham, WA
820 Alabama St
Bellingham, WA 98225
Insurance Agencies and Brokerages
NAICS code 524210
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Bellingham
In the Bellingham area, 23 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 4) and received an average PPP loan of $91,758 (compared to this company's $25,485).
Similar Nearby Businesses Who Received PPP Funding:
Northwest Health Plans LLC
Coastal Insurance Group, LLC
Erik J Dyrland Insurance Agency Ps
Carl P Davis Insurance Agency Inc
Darren C Clark Insurance Agency Inc
Rice Insurance, LLC
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, the same amount reported by Jake Squires Insurance And Financial Services Inc and received an average PPP loan of $39,254, 54% higher than this company's loan of $25,485.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!