PPP Loan Data — MAI P Tonnu Insurance Agency Inc, Westminster, CA
MAI P Tonnu Insurance Agency Inc is a corporation located at 9039 Bolsa Ave Ste 212 in Westminster, California that received a Coronavirus-related PPP loan from the SBA of $25,069.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
MAI P Tonnu Insurance Agency Inc in Westminster, CA received a Paycheck Protection Loan of $25,069 through Bank of America, 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, MAI P Tonnu Insurance Agency Inc's 2019 payroll expenses are estimated to be at least $120,331.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,110 per employee1
Reported PPP Proceed Usage:
On the PPP application, MAI P Tonnu Insurance Agency Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,069
Business Information - MAI P Tonnu Insurance Agency Inc in Westminster, CA
9039 Bolsa Ave Ste 212
Westminster, CA 92683
Insurance Agencies and Brokerages
NAICS code 524210
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Westminster
In the Westminster area, 93 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 3) and received an average PPP loan of $27,383 (compared to this company's $25,069).
Similar Nearby Businesses Who Received PPP Funding:
TAN Bui Insurance Agency
Bay To Bay Financial
Lina (AKA) Lieu Tran Nguyen
K Jay Insurance Agency
Thuy Huynh Insurance Agency Inc
Vivian Tran Insurance Agency
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 MAI P Tonnu Insurance Agency Inc's reported 3 employees, and received an average PPP loan of $39,254, 57% higher than this company's loan of $25,069.
FederalPay's PPP Information Policy
Footnotes & Information
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