PPP Loan Data — King Financial & Insurance Group, Inc, Englewood, FL
King Financial & Insurance Group, Inc is a corporation located at 651 Indiana Ave in Englewood, Florida that received a Coronavirus-related PPP loan from the SBA of $46,998.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Horizon Bank
King Financial & Insurance Group, Inc in Englewood, FL received a Paycheck Protection Loan of $46,998 through First Horizon 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 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, King Financial & Insurance Group, Inc's 2019 payroll expenses are estimated to be at least $225,590.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $32,227 per employee1
Reported PPP Proceed Usage:
On the PPP application, King Financial & Insurance Group, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,998
Business Information - King Financial & Insurance Group, Inc in Englewood, FL
651 Indiana Ave
Englewood, FL 34223
Direct Property and Casualty Insurance Carriers
NAICS code 524126
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Englewood
In the Englewood area, 2 businesses in the "Direct Property and Casualty Insurance Carriers" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 7) and received an average PPP loan of $60,049 (compared to this company's $46,998).
Similar Nearby Businesses Who Received PPP Funding:
Ronald A Smith Insurance Agency
Industry PPP Comparison Statistics
Nationwide, 5,686 businesses in the "Direct Property and Casualty Insurance Carriers" industry received a total of $400.58M 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 6 employees, 14% lower than King Financial & Insurance Group, Inc's reported 7 employees, and received an average PPP loan of $70,450, 50% higher than this company's loan of $46,998.
FederalPay's PPP Information Policy
Footnotes & Information
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