PPP Loan Data — JSP Life Agency Inc, Bronx, NY
JSP Life Agency Inc is a corporation located at 3699 Bainbridge Ave in Bronx, New York that received a Coronavirus-related PPP loan from the SBA of $2,416,757.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:TD Bank, National Association
JSP Life Agency Inc in Bronx, NY received a Paycheck Protection Loan of $2.42M through TD Bank, National Association, which was approved in May, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, JSP Life Agency Inc's 2019 payroll expenses are estimated to be at least $11.6M.
Based on their reported 378 jobs retained, this equals an estimated average yearly compensation of $30,689 per employee1
Reported PPP Proceed Usage:
On the PPP application, JSP Life Agency Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,416,757
Business Information - JSP Life Agency Inc in Bronx, NY
3699 Bainbridge Ave
Bronx, NY 10467
Direct Life Insurance Carriers
NAICS code 524113
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Bronx
In the Bronx area, 8 businesses in the "Direct Life Insurance Carriers" industry received a PPP loan. These local businesses reported an average of 48 employees (compared to this company's 378) and received an average PPP loan of $314,238 (compared to this company's $2.42M).
Similar Nearby Businesses Who Received PPP Funding:
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, 99% lower than JSP Life Agency Inc's reported 378 employees, and received an average PPP loan of $32,063, 99% lower than this company's loan of $2.42M.
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Footnotes & Information
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