PPP Loan Data — James Marinelli State Farm, South Barrington, IL
James Marinelli State Farm is a sole proprietorship located at 3 Executive Ct Suite 2 in South Barrington, Illinois that received a Coronavirus-related PPP loan from the SBA of $24,950.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Barrington Bank & Trust Company, National Association
James Marinelli State Farm in South Barrington, IL received a Paycheck Protection Loan of $24,950 through Barrington Bank & Trust Company, National Association, 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 March, 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, James Marinelli State Farm's 2019 payroll expenses are estimated to be at least $119,760.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $23,952 per employee1
Reported PPP Proceed Usage:
On the PPP application, James Marinelli State Farm reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $18,713
- Utilities: $3,119
- Mortgage Interest: $3,119
Business Information - James Marinelli State Farm in South Barrington, IL
3 Executive Ct Suite 2
South Barrington, IL 60010
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 South Barrington
In the South Barrington area, 44 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 5) and received an average PPP loan of $68,765 (compared to this company's $24,950).
Similar Nearby Businesses Who Received PPP Funding:
RWM Insurance Solutions, Inc
Int'l Insurance Agency Inc
Barrington Hills, IL
All Suburban Insurance Services, Inc
Lake Barrington, IL
Thomas Stoecker Insurance Agency, Inc
Advanced Financial Solutions
South Barrington, IL
Jensen Jacobsen & Associates, Inc
S Barrington, IL
Advanced Financial Solutions, Inc
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, 20% lower than James Marinelli State Farm's reported 5 employees, and received an average PPP loan of $39,254, 57% higher than this company's loan of $24,950.
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Footnotes & Information
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