PPP Loan Data — Southeastern Insurance LLC, Tallassee, AL
Southeastern Insurance LLC is a limited liability company (LLC) located at 312 James St in Tallassee, Alabama that received a Coronavirus-related PPP loan from the SBA of $25,293.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Community Bank of Central Alabama
Southeastern Insurance LLC in Tallassee, AL received a Paycheck Protection Loan of $25,293 through First Community Bank of Central Alabama, 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 March, 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, Southeastern Insurance LLC's 2019 payroll expenses are estimated to be at least $121,406.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,352 per employee1
Reported PPP Proceed Usage:
On the PPP application, Southeastern Insurance LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $20,234
- Utilities: $5,059
Business Information - Southeastern Insurance LLC in Tallassee, AL
312 James St
Tallassee, AL 36078
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 Tallassee
In the Tallassee area, 8 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 4) and received an average PPP loan of $16,954 (compared to this company's $25,293).
Similar Nearby Businesses Who Received PPP Funding:
Jackson A. Blair
South Eastern Senior Benefits
The Sweet Young'uns
Logan Steers Insurance
Mark E Hollingsworth
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 Southeastern Insurance LLC and received an average PPP loan of $39,254, 55% higher than this company's loan of $25,293.
FederalPay's PPP Information Policy
Footnotes & Information
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