PPP Loan Data — Masterssons And Associates, Caledonia, IL
Masterssons And Associates is a subchapter s corporation located at 13250 Charleston St in Caledonia, Illinois that received a Coronavirus-related PPP loan from the SBA of $24,837.00 in June, 2020.
The company has reported itself as a male owned business, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Midwest Community Bank
Masterssons And Associates in Caledonia, IL received a Paycheck Protection Loan of $24,837 through Midwest Community Bank, which was approved in June, 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 January, 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, Masterssons And Associates' 2019 payroll expenses are estimated to be at least $119,218.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $59,609 per employee1
Reported PPP Proceed Usage:
On the PPP application, Masterssons And Associates reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,837
Business Information - Masterssons And Associates in Caledonia, IL
13250 Charleston St
Caledonia, IL 61011
Insurance Agencies and Brokerages
NAICS code 524210
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Caledonia
In the Caledonia area, 9 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 2) and received an average PPP loan of $19,270 (compared to this company's $24,837).
Similar Nearby Businesses Who Received PPP Funding:
Dennis J Cassens
Susan Stukenberg Insurance Agency Inc
SSM Insurance Corp
Kerry Wickler Insurance, Inc
Country Financial - Chris Criddle
Gregg Marinelli State Farm Insurance
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, 100% higher than Masterssons And Associates' reported 2 employees, and received an average PPP loan of $39,254, 58% higher than this company's loan of $24,837.
FederalPay's PPP Information Policy
Footnotes & Information
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