PPP Loan Data — Lankau Insurance Agency, Scottsdale, AZ
Lankau Insurance Agency is a corporation located at 10458 E Jomax Rd 105 in Scottsdale, Arizona that received a Coronavirus-related PPP loan from the SBA of $25,088.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Wells Fargo Bank, National Association
Lankau Insurance Agency in Scottsdale, AZ received a Paycheck Protection Loan of $25,088 through Wells Fargo Bank, National Association, which was approved in April, 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, Lankau Insurance Agency's 2019 payroll expenses are estimated to be at least $120,422.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,106 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lankau Insurance Agency reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,088
Business Information - Lankau Insurance Agency in Scottsdale, AZ
10458 E Jomax Rd 105
Scottsdale, AZ 85262
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 Scottsdale
In the Scottsdale area, 9 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 4) and received an average PPP loan of $16,027 (compared to this company's $25,088).
Similar Nearby Businesses Who Received PPP Funding:
Rio Verde, AZ
American Benefit Planners, LLC
Global Insurance Alliance Inc
Clarity Arizona LLC
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, the same amount reported by Lankau Insurance Agency and received an average PPP loan of $39,254, 56% higher than this company's loan of $25,088.
FederalPay's PPP Information Policy
Footnotes & Information
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