PPP Loan Data — Sedona Financial & Insurance Services, Inc, Sedona, AZ
Sedona Financial & Insurance Services, Inc is a subchapter s corporation located at 2860 Hopi Drive, Suite 3c in Sedona, Arizona that received a Coronavirus-related PPP loan from the SBA of $24,900.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:New York Community Bank
Sedona Financial & Insurance Services, Inc in Sedona, AZ received a Paycheck Protection Loan of $24,900 through New York Community 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 February, 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, Sedona Financial & Insurance Services, Inc's 2019 payroll expenses are estimated to be at least $119,520.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $39,840 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sedona Financial & Insurance Services, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,900
Business Information - Sedona Financial & Insurance Services, Inc in Sedona, AZ
2860 Hopi Drive, Suite 3c
Sedona, AZ 86336
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: Rural
Similar Companies near Sedona
In the Sedona area, 6 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 3) and received an average PPP loan of $50,676 (compared to this company's $24,900).
Similar Nearby Businesses Who Received PPP Funding:
Draxler & Associates, Inc
Bailor Insurance, LLC
Johnson Insurance Services LLC
Don E Nelms Insurance
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 Sedona Financial & Insurance Services, Inc's reported 3 employees, and received an average PPP loan of $39,254, 58% higher than this company's loan of $24,900.
FederalPay's PPP Information Policy
Footnotes & Information
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