PPP Loan Data — Solano Consultants LLC, Allentown, PA
Solano Consultants LLC is a limited liability company (LLC) located at 1146 Hamilton St Unit 1 in Allentown, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $25,500.00 in May, 2020.
The company has reported itself as a White male owned business, and employed at least seven people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Community First Capital Corp
Solano Consultants LLC in Allentown, PA received a Paycheck Protection Loan of $25,500 through Community First Capital Corp, which was approved in May, 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, Solano Consultants LLC's 2019 payroll expenses are estimated to be at least $122,400.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $17,486 per employee1
Reported PPP Proceed Usage:
On the PPP application, Solano Consultants LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $19,125
- Rent: $6,375
Business Information - Solano Consultants LLC in Allentown, PA
1146 Hamilton St Unit 1
Allentown, PA 18101
Insurance Agencies and Brokerages
NAICS code 524210
Business Owner Demographics
Ethnicity: Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Allentown
In the Allentown area, 15 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 7) and received an average PPP loan of $18,324 (compared to this company's $25,500).
Similar Nearby Businesses Who Received PPP Funding:
Garcia Insurance Agency
Genesis 50:20 LLC
Executive Benefits Service Group LLC
Tri-County Financial LLC
Home Furnishings Insurance Group, 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, 43% lower than Solano Consultants LLC's reported 7 employees, and received an average PPP loan of $39,254, 54% higher than this company's loan of $25,500.
FederalPay's PPP Information Policy
Footnotes & Information
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