PPP Loan Data — Kirk W. Kessel Companies, Inc, Indialantic, FL
Kirk W. Kessel Companies, Inc is a corporation located at 436 Fifth Avenue in Indialantic, Florida that received a Coronavirus-related PPP loan from the SBA of $46,458.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:TD Bank, National Association
Kirk W. Kessel Companies, Inc in Indialantic, FL received a Paycheck Protection Loan of $46,458 through TD Bank, National Association, which was approved in April, 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.The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 1 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 2. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Kirk W. Kessel Companies, Inc's 2019 payroll expenses are estimated to be at least $222,998 (not accounting for salary amounts > $100k).
Because the 1 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Kirk W. Kessel Companies, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,458
Business Information - Kirk W. Kessel Companies, Inc in Indialantic, FL
436 Fifth Avenue
Indialantic, FL 32903
Offices of Real Estate Agents and Brokers
NAICS code 531210
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Indialantic
In the Indialantic area, 41 businesses in the "Offices of Real Estate Agents and Brokers" industry received a PPP loan. These local businesses reported an average of 1 employees (compared to this company's 1) and received an average PPP loan of $14,793 (compared to this company's $46,458).
Similar Nearby Businesses Who Received PPP Funding:
Misty Sells Homes Inc
West Melbourne, FL
Tracy Hudson Frantzis
West Melbourne, FL
ITG Property Management LLC (DBA Itg Realty LLC)
West Melbourne, FL
BEA Linda Stonesifer Jaffe PA
Triad Realty, LLC
Industry PPP Comparison Statistics
Nationwide, 255,794 businesses in the "Offices of Real Estate Agents and Brokers" industry received a total of $5.75B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 2 employees, 100% higher than Kirk W. Kessel Companies, Inc's reported 1 employees, and received an average PPP loan of $22,469, 52% lower than this company's loan of $46,458.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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