PPP Loan Data — Nextgen Advisors LLC, Scottsdale, AZ
Nextgen Advisors LLC is a limited liability company (LLC) located at 14269 N 87th St Unit 105 in Scottsdale, Arizona that received a Coronavirus-related PPP loan from the SBA of $45,900.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First-Citizens Bank & Trust Company
Nextgen Advisors LLC in Scottsdale, AZ received a Paycheck Protection Loan of $45,900 through First-Citizens Bank & Trust Company, 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 May, 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, Nextgen Advisors LLC's 2019 payroll expenses are estimated to be at least $220,320.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $55,080 per employee1
Reported PPP Proceed Usage:
On the PPP application, Nextgen Advisors LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,900
Business Information - Nextgen Advisors LLC in Scottsdale, AZ
14269 N 87th St Unit 105
Scottsdale, AZ 85260
NAICS code 523930
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Scottsdale
In the Scottsdale area, 45 businesses in the "Investment Advice" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 4) and received an average PPP loan of $42,376 (compared to this company's $45,900).
Similar Nearby Businesses Who Received PPP Funding:
Vazirani & Associates Financial, LLC
Empowerment Financial Group
Silver Leaf Financial Inc
Sophia M LLC
Riordan Investment Management Inc
Liberty Wealth Management LLC
Industry PPP Comparison Statistics
Nationwide, 32,223 businesses in the "Investment Advice" industry received a total of $1.45B 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 4 employees, the same amount reported by Nextgen Advisors LLC and received an average PPP loan of $44,994, 2% lower than this company's loan of $45,900.
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Footnotes & Information
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