PPP Loan Data — Kristian Navarro Insurance & Financial Services, Inc, Chicago, IL
Kristian Navarro Insurance & Financial Services, Inc is a subchapter s corporation located at 1455 N Ashland Ave in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Kristian Navarro Insurance & Financial Services, Inc in Chicago, IL received a Paycheck Protection Loan of $25,000 through JPMorgan Chase Bank, National Association, which was approved in May, 2020.
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, Kristian Navarro Insurance & Financial Services, Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Kristian Navarro Insurance & Financial Services, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $19,000
- Rent: $6,000
Business Information - Kristian Navarro Insurance & Financial Services, Inc in Chicago, IL
1455 N Ashland Ave
Chicago, IL 60622
Insurance Agencies and Brokerages
NAICS code 524210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 423 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 1 employees (compared to this company's 3) and received an average PPP loan of $19,623 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
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 Kristian Navarro Insurance & Financial Services, Inc's reported 3 employees, and received an average PPP loan of $39,254, 57% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
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