PPP Loan Data — Professional Finance Company, Inc, Greeley, CO
Professional Finance Company, Inc is a corporation located at 5754 W 11th St Suite 100 in Greeley, Colorado that received a Coronavirus-related PPP loan from the SBA of $1,567,389.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First National Bank of Omaha
Professional Finance Company, Inc in Greeley, CO received a Paycheck Protection Loan of $1.57M through First National Bank of Omaha, 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, Professional Finance Company, Inc's 2019 payroll expenses are estimated to be at least $7.52M.
Based on their reported 141 jobs retained, this equals an estimated average yearly compensation of $53,358 per employee1
Reported PPP Proceed Usage:
On the PPP application, Professional Finance Company, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,567,389
Business Information - Professional Finance Company, Inc in Greeley, CO
5754 W 11th St Suite 100
Greeley, CO 80634
NAICS code 561440
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 2,910 businesses in the "Collection Agencies" industry received a total of $542.19M 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 19 employees, 87% lower than Professional Finance Company, Inc's reported 141 employees, and received an average PPP loan of $186,320, 88% lower than this company's loan of $1.57M.
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Footnotes & Information
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