PPP Loan Data — Lehman Strickler Insurance Agency, LLC, Milford, PA
Lehman Strickler Insurance Agency, LLC is a limited liability company (LLC) located at 415 Broad St in Milford, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lehman Strickler Insurance Agency, LLC in Milford, PA received a Paycheck Protection Loan of $25,000 through FNCB 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 March, 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, Lehman Strickler Insurance Agency, LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lehman Strickler Insurance Agency, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Lehman Strickler Insurance Agency, LLC in Milford, PA
415 Broad St
Milford, PA 18337
Insurance Agencies and Brokerages
NAICS code 524210
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Milford
In the Milford area, 7 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 4) and received an average PPP loan of $21,203 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
RH Worthington Group LLC
American Senior Benefits
Pike County Agency Inc
Rocco Fasulo Inc
Team Of Destiny Inc
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 Lehman Strickler Insurance Agency, LLC 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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