PPP Loan Data — Randal Agency LLC, Pittsburgh, PA
Randal Agency LLC is a limited liability company (LLC) located at 2600 Boyce Plaza Rd 215 in Pittsburgh, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Citizens Bank, National Association
Randal Agency LLC in Pittsburgh, PA received a Paycheck Protection Loan of $25,000 through Citizens 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, Randal Agency LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Randal Agency LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Randal Agency LLC in Pittsburgh, PA
2600 Boyce Plaza Rd 215
Pittsburgh, PA 15241
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 Pittsburgh
In the Pittsburgh area, 21 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 3) and received an average PPP loan of $33,811 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Pittsburgh Property And Casualty Inc
Teresa Ann Tucker
American Equity Services Corporation
MGI Risk Management
Robert C Benner Insurance LLC
Kelbro Insurance Services, Inc
Ronald Gestiehr DBA None
Thomas Insurance Services Inc
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, 33% higher than Randal Agency LLC's reported 3 employees, and received an average PPP loan of $39,254, 57% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
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