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PPP Loan Data — Sclair Insurance Agency Inc, Saint Louis, MO

SBA PPP loan data, payroll data, and salaries for Sclair Insurance Agency Inc
MO

Sclair Insurance Agency Inc

Entity: Subchapter S Corporation

Industry: Insurance Agencies and Brokerages

Location: Saint Louis, MO

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Sclair Insurance Agency Inc is a subchapter s corporation located at 2388 Schuetz Rd Ste B51 in Saint Louis, Missouri that received a Coronavirus-related PPP loan from the SBA of $12,012.00 in April, 2020.

$ PPP Loan Information
Loan #4862947203

Loan Size:

$12,012

Jobs Retained:

2

Loan Approved:

2020-04-27

Loan Status:

Paid in Full or Forgiven

Lender:

Carrollton Bank

Sclair Insurance Agency Inc in Saint Louis, MO received a Paycheck Protection Loan of $12,012 through Carrollton Bank, 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 June, 2021.

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, Sclair Insurance Agency Inc's 2019 payroll expenses are estimated to be at least $57,658.

Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $28,829 per employee1

Reported PPP Proceed Usage:

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

  • Payroll: $9,009
  • Rent: $3,003

Business Information - Sclair Insurance Agency Inc in Saint Louis, MO

Sclair Insurance Agency Inc
2388 Schuetz Rd Ste B51
Saint Louis, MO 63146

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

Saint Louis County, MO — SBA Office 0768 — Congressional District: MO-01

Similar Companies near Saint Louis

In the Saint Louis area, 25 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 2) and received an average PPP loan of $20,324 (compared to this company's $12,012).

Industry PPP Comparison Statistics

Nationwide, 148,603 businesses in the "Insurance Agencies and Brokerages" industry received a total of $5.85B 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, 100% higher than Sclair Insurance Agency Inc's reported 2 employees, and received an average PPP loan of $39,368, 228% higher than this company's loan of $12,012.

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.

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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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Source: www.federalpay.org/paycheck-protection-program/sclair-insurance-agency-inc-saint-louis-mo