PPP Loan Data — John J Jewell Insurance Agency Inc, Tucson, AZ
John J Jewell Insurance Agency Inc is a corporation located at 5442 E 5th St in Tucson, Arizona that received a Coronavirus-related PPP loan from the SBA of $25,255.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:JPMorgan Chase Bank, National Association
John J Jewell Insurance Agency Inc in Tucson, AZ received a Paycheck Protection Loan of $25,255 through JPMorgan Chase Bank, 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, John J Jewell Insurance Agency Inc's 2019 payroll expenses are estimated to be at least $121,224.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,408 per employee1
Reported PPP Proceed Usage:
On the PPP application, John J Jewell Insurance Agency Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $20,204
- Utilities: $604
- Rent: $1,200
- Health Care: $3,247
Business Information - John J Jewell Insurance Agency Inc in Tucson, AZ
5442 E 5th St
Tucson, AZ 85711
Insurance Agencies and Brokerages
NAICS code 524210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Tucson
In the Tucson area, 58 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 3) and received an average PPP loan of $53,336 (compared to this company's $25,255).
Similar Nearby Businesses Who Received PPP Funding:
Joe Abong Insurance Agency Inc
Totten Insuarnce Agency LLC
C P Riesgo INS Inc
Randy Jones Insurance Agency, Inc
Damschen Group, LLC
R E Kisthardt Insurance Agency Inc
Alex Duquette Insurance Agency LLC
Magnuson & Associates, LTD
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, 33% higher than John J Jewell Insurance Agency Inc's reported 3 employees, and received an average PPP loan of $39,254, 55% higher than this company's loan of $25,255.
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