PPP Loan Data — Moody Insurance Agency, Inc, Denver, CO
Moody Insurance Agency, Inc is a corporation located at 8055 E. Tufts Ave, Suite 1000 0.0 in Denver, Colorado that received a Coronavirus-related PPP loan from the SBA of $1,858,520.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Moody Insurance Agency, Inc in Denver, CO received a Paycheck Protection Loan of $1.86M through JPMorgan Chase 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, Moody Insurance Agency, Inc's 2019 payroll expenses are estimated to be at least $8.92M.
Based on their reported 112 jobs retained, this equals an estimated average yearly compensation of $79,651 per employee1
Reported PPP Proceed Usage:
On the PPP application, Moody Insurance Agency, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,617,520
- Rent: $121,000
- Health Care: $120,000
Business Information - Moody Insurance Agency, Inc in Denver, CO
8055 E. Tufts Ave, Suite 1000 0.0
Denver, CO 80237
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 Denver
In the Denver area, 32 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 112) and received an average PPP loan of $113,928 (compared to this company's $1.86M).
Similar Nearby Businesses Who Received PPP Funding:
Cliintel Capital Management Group, LLC
Lighthouse Insurance, LLC
Advantage Insurance Solutions
Adams & Ellsworth
Lutz Financial 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, 96% lower than Moody Insurance Agency, Inc's reported 112 employees, and received an average PPP loan of $39,254, 98% lower than this company's loan of $1.86M.
FederalPay's PPP Information Policy
Footnotes & Information
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