PPP Loan Data — Shavon Sisson State Farm Insurance, Amarillo, TX
Shavon Sisson State Farm Insurance is a sole proprietorship located at 7935 Sw 45th Ave in Amarillo, Texas that received a Coronavirus-related PPP loan from the SBA of $25,346.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Financial Bank, National Association
Shavon Sisson State Farm Insurance in Amarillo, TX received a Paycheck Protection Loan of $25,346 through First Financial Bank, National Association, which was approved in April, 2020.
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, Shavon Sisson State Farm Insurance's 2019 payroll expenses are estimated to be at least $121,661.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,415 per employee1
Reported PPP Proceed Usage:
On the PPP application, Shavon Sisson State Farm Insurance reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $19,010
- Utilities: $6,337
Business Information - Shavon Sisson State Farm Insurance in Amarillo, TX
7935 Sw 45th Ave
Amarillo, TX 79119
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 Amarillo
In the Amarillo area, 17 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 4) and received an average PPP loan of $23,232 (compared to this company's $25,346).
Similar Nearby Businesses Who Received PPP Funding:
Insurance Placement Specialist Inc
Cortez Insurance Agency
Vincent Associates & Insurance Professionals
REX Baxter Insurance Agency, LLC
O'hair Insurance Agency, LLC
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, the same amount reported by Shavon Sisson State Farm Insurance and received an average PPP loan of $39,254, 55% higher than this company's loan of $25,346.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!