PPP Loan Data — Kurt J Teller INS Agcy Inc, Fraser, MI
Kurt J Teller INS Agcy Inc is a corporation located at 16054 15 Mile Rd in Fraser, Michigan that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Kurt J Teller INS Agcy Inc in Fraser, MI received a Paycheck Protection Loan of $25,000 through WebBank, 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, Kurt J Teller INS Agcy 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, Kurt J Teller INS Agcy Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Kurt J Teller INS Agcy Inc in Fraser, MI
16054 15 Mile Rd
Fraser, MI 48026
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 Fraser
In the Fraser area, 28 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 14 employees (compared to this company's 3) and received an average PPP loan of $69,545 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Provision Insurance Group LLC
National Health Plans & Benefits Agency, LLC
Goodnight Agency, LLC
Daryl L. Gilliam Insurance Agency, Inc
Bingham Farms, MI
Beverly Hills, MI
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 Kurt J Teller INS Agcy 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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