PPP Loan Data — Robert K. Larsen Insurance Agency Inc, Taylorsville, UT
Robert K. Larsen Insurance Agency Inc is a corporation located at 3457 W 4700 S in Taylorsville, Utah that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Robert K. Larsen Insurance Agency Inc in Taylorsville, UT received a Paycheck Protection Loan of $25,000 through Cyprus FCU, 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 March, 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, Robert K. Larsen Insurance Agency Inc'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, Robert K. Larsen Insurance Agency Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $21,879
- Utilities: $621
- Rent: $2,500
Business Information - Robert K. Larsen Insurance Agency Inc in Taylorsville, UT
3457 W 4700 S
Taylorsville, UT 84129
Direct Health and Medical Insurance Carriers
NAICS code 524114
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Taylorsville
In the Taylorsville area, 4 businesses in the "Direct Health and Medical Insurance Carriers" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 3) and received an average PPP loan of $11,461 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Group Insurance Specialists Inc
Industry PPP Comparison Statistics
Nationwide, 4,454 businesses in the "Direct Health and Medical Insurance Carriers" industry received a total of $262.47M 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 7 employees, 133% higher than Robert K. Larsen Insurance Agency Inc's reported 3 employees, and received an average PPP loan of $58,930, 136% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
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