PPP Loan Data — Scott Hammond Insurance Services, Inc., Eureka, CA
Scott Hammond Insurance Services, Inc. is a corporation located at 537 7th Street, Suite 1 in Eureka, California that received a Coronavirus-related PPP loan from the SBA of $54,427.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least four people during the applicable loan loan period.
$ PPP Loan Information
Lender:COAST CENTRAL CU
Scott Hammond Insurance Services, Inc. received a Paycheck Protection Loan of $54,427 through COAST CENTRAL CU, which was approved in April, 2020.
Based on standard PPP eligibility rules, Scott Hammond Insurance Services, Inc.'s total 2019 payroll expenses were approximately $261,250 in order to qualify for the PPP loan amount received.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $65,313 per employee1.
Business Information - Scott Hammond Insurance Services, Inc. in Eureka, CA
537 7th Street, Suite 1
Eureka, CA 95501
Insurance Agencies and Brokerages (NAICS code 524210)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: CA-02
Similar Companies near Eureka
In the Eureka area, 12 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 18 employees (compared to this company's 4) and received an average PPP loan of $264,591 (compared to this company's $54,427).
Similar Nearby Businesses Who Received PPP Funding:
Shaw And Petersen INS Inc
707 Jimenez Insurance Services LLC
Gary Ogle Insurance Services, LLC
Stan Smith Insurance Services
Tim Storey Insurance
Hansen Insurance Agency Inc
Six Rivers Insurance Services, LLC
Industry PPP Comparison Statistics
Nationwide, 90,958 businesses in the "Insurance Agencies and Brokerages" industry received a total of $4,494,836,388.00 in PPP loans. These businesses account for 2% 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, the same amount reported by Scott Hammond Insurance Services, Inc. and received an average PPP loan of $49,417, 9% lower than this company's loan of $54,427.
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.
Footnotes & Information
1. 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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