PPP Loan Data — Jeff Ward Insurance Agency LLC, Spring, TX
Jeff Ward Insurance Agency LLC is a subchapter s corporation located at 1544 Sawdust Rd in Spring, Texas that received a Coronavirus-related PPP loan from the SBA of $25,428.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Jeff Ward Insurance Agency LLC in Spring, TX received a Paycheck Protection Loan of $25,428 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, Jeff Ward Insurance Agency LLC's 2019 payroll expenses are estimated to be at least $122,054.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $61,027 per employee1
Reported PPP Proceed Usage:
On the PPP application, Jeff Ward Insurance Agency LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,428
- Rent: $1,000
Business Information - Jeff Ward Insurance Agency LLC in Spring, TX
1544 Sawdust Rd
Spring, TX 77380
Direct Life Insurance Carriers
NAICS code 524113
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Spring
In the Spring area, 4 businesses in the "Direct Life Insurance Carriers" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 2) and received an average PPP loan of $26,156 (compared to this company's $25,428).
Similar Nearby Businesses Who Received PPP Funding:
Talancon Insurance Agency, LLC
Talon Automotive Financial Services, LLC
James P Mccabe
The Woodlands, 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, 50% higher than Jeff Ward Insurance Agency LLC's reported 2 employees, and received an average PPP loan of $32,063, 26% higher than this company's loan of $25,428.
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Footnotes & Information
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