PPP Loan Data — Justin Puckett Insurance LLC, La Center, KY
Justin Puckett Insurance LLC is a limited liability company (LLC) located at 425 E Kentucky Dr in La Center, Kentucky that received a Coronavirus-related PPP loan from the SBA of $46,925.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Justin Puckett Insurance LLC in La Center, KY received a Paycheck Protection Loan of $46,925 through SouthernTrust Bank, 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 February, 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, Justin Puckett Insurance LLC's 2019 payroll expenses are estimated to be at least $225,240.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $45,048 per employee1
Reported PPP Proceed Usage:
On the PPP application, Justin Puckett Insurance LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $37,540
- Utilities: $9,385
Business Information - Justin Puckett Insurance LLC in La Center, KY
425 E Kentucky Dr
La Center, KY 42056
Insurance Agencies and Brokerages
NAICS code 524210
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near La Center
In the La Center area, 3 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 5) and received an average PPP loan of $27,464 (compared to this company's $46,925).
Similar Nearby Businesses Who Received PPP Funding:
La Center, KY
La Center, KY
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 Justin Puckett Insurance LLC's reported 5 employees, and received an average PPP loan of $39,254, 16% lower than this company's loan of $46,925.
FederalPay's PPP Information Policy
Footnotes & Information
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