PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Neri Insurance Agency Inc, Fresno, CA

ALERT: There are 2 PPP loans for a total of $2.16M in our database for businesses with the name "Neri Insurance Agency Inc" in Fresno, CA. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Neri Insurance Agency Inc
CA

Neri Insurance Agency Inc

Entity: Subchapter S Corporation

Industry: Insurance Agencies and Brokerages

Location: Fresno, CA

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Neri Insurance Agency Inc is a subchapter s corporation located at 470 E Herndon Ave Ste 100 in Fresno, California that received a Coronavirus-related PPP loan from the SBA of $971,235.00 in March, 2021.

$ PPP Loan Information
Loan #1416758600

Loan Size:

$971,235

Jobs Retained:

140

Loan Approved:

2021-03-13

Loan Status:

Ongoing Loan

Lender:

A10Capital, LLC

Neri Insurance Agency Inc in Fresno, CA received a Paycheck Protection Loan of $971,235 through A10Capital, LLC, which was approved in March, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Neri Insurance Agency Inc's 2019 payroll expenses are estimated to be at least $4.66M.

Based on their reported 140 jobs retained, this equals an estimated average yearly compensation of $33,299 per employee1

Reported PPP Proceed Usage:

On the PPP application, Neri Insurance Agency Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $971,235

Business Information - Neri Insurance Agency Inc in Fresno, CA

Neri Insurance Agency Inc
470 E Herndon Ave Ste 100
Fresno, CA 93720

Business Industry:
Insurance Agencies and Brokerages
NAICS code 524210

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Fresno County, CA — SBA Office 0942 — Congressional District: CA-22

Similar Companies near Fresno

In the Fresno area, 44 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 16 employees (compared to this company's 140) and received an average PPP loan of $140,268 (compared to this company's $971,235).

Industry PPP Comparison Statistics

Nationwide, 133,470 businesses in the "Insurance Agencies and Brokerages" industry received a total of $5.57B in PPP loans. These businesses account for 2% 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, 97% lower than Neri Insurance Agency Inc's reported 140 employees, and received an average PPP loan of $41,750, 96% lower than this company's loan of $971,235.

SBA PPP loan data, payroll data, and salaries for Neri Insurance Agency, Inc
CA

Neri Insurance Agency, Inc

Entity: Subchapter S Corporation

Industry: All Other Insurance Related Activities

Location: Fresno, CA

Search All PPP Data

Neri Insurance Agency, Inc is a subchapter s corporation located at 470 E Herndon Ave Ste 100 in Fresno, California that received a Coronavirus-related PPP loan from the SBA of $1,190,632.00 in May, 2020.

$ PPP Loan Information
Loan #2527987709

Loan Size:

$1.19M

Jobs Retained:

161

Loan Approved:

2020-05-01

Loan Status:

Ongoing Loan

Lender:

JPMorgan Chase Bank, National Association

Neri Insurance Agency, Inc in Fresno, CA received a Paycheck Protection Loan of $1.19M through JPMorgan Chase Bank, National Association, which was approved in May, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Neri Insurance Agency, Inc's 2019 payroll expenses are estimated to be at least $5.72M.

Based on their reported 161 jobs retained, this equals an estimated average yearly compensation of $35,497 per employee1

Reported PPP Proceed Usage:

On the PPP application, Neri Insurance Agency, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,001,882
  • Utilities: $30,000
  • Rent: $96,250
  • Health Care: $62,500

Business Information - Neri Insurance Agency, Inc in Fresno, CA

Neri Insurance Agency, Inc
470 E Herndon Ave Ste 100
Fresno, CA 93720

Business Industry:
All Other Insurance Related Activities
NAICS code 524298

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Fresno County, CA — SBA Office 0942 — Congressional District: CA-22

Similar Companies near Fresno

In the Fresno area, 5 businesses in the "All Other Insurance Related Activities" industry received a PPP loan. These local businesses reported an average of 45 employees (compared to this company's 161) and received an average PPP loan of $337,446 (compared to this company's $1.19M).

Industry PPP Comparison Statistics

Nationwide, 9,386 businesses in the "All Other Insurance Related Activities" industry received a total of $486.99M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.

PPP recipients in this industry report an average of 5 employees, 97% lower than Neri Insurance Agency, Inc's reported 161 employees, and received an average PPP loan of $51,884, 96% lower than this company's loan of $1.19M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/neri-insurance-agency-inc-fresno-ca