PPP Loan Data — Service First Insurance Group, LLC, Jacksonville, FL
Service First Insurance Group, LLC is a limited liability company (LLC) located at 12926 Gran Bay Pkwy W Suite 200 in Jacksonville, Florida that received a Coronavirus-related PPP loan from the SBA of $1,784,800.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Citizens Bank, National Association
Service First Insurance Group, LLC in Jacksonville, FL received a Paycheck Protection Loan of $1.78M through Citizens Bank, National Association, 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 May, 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, Service First Insurance Group, LLC's 2019 payroll expenses are estimated to be at least $8.57M.
Based on their reported 96 jobs retained, this equals an estimated average yearly compensation of $89,240 per employee1
Reported PPP Proceed Usage:
On the PPP application, Service First Insurance Group, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,784,800
Business Information - Service First Insurance Group, LLC in Jacksonville, FL
12926 Gran Bay Pkwy W Suite 200
Jacksonville, FL 32258
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 Jacksonville
In the Jacksonville area, 52 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 96) and received an average PPP loan of $79,791 (compared to this company's $1.78M).
Similar Nearby Businesses Who Received PPP Funding:
J. P. Perry Insurance, Inc
Saint Johns, FL
Fruit Cove, FL
George A. Zellner Company, Inc
Milam Insurance Strategies
David Beam Insurance Agency Inc
Long Development Group Inc
St Johns, FL
Three H Enterprises Inc
Saint Johns, FL
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, 96% lower than Service First Insurance Group, LLC's reported 96 employees, and received an average PPP loan of $39,254, 98% lower than this company's loan of $1.78M.
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Footnotes & Information
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