PPP Loan Data — Stop 1 Insurance Agency #4 LLC, Lansing, MI
Stop 1 Insurance Agency #4 LLC is a subchapter s corporation located at 6100 S Cedar St Ste 2 in Lansing, Michigan that received a Coronavirus-related PPP loan from the SBA of $25,180.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Stop 1 Insurance Agency #4 LLC in Lansing, MI received a Paycheck Protection Loan of $25,180 through Quontic Bank, which was approved in May, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Stop 1 Insurance Agency #4 LLC's 2019 payroll expenses are estimated to be at least $120,864.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $12,086 per employee1
Reported PPP Proceed Usage:
On the PPP application, Stop 1 Insurance Agency #4 LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,180
Business Information - Stop 1 Insurance Agency #4 LLC in Lansing, MI
6100 S Cedar St Ste 2
Lansing, MI 48911
Insurance Agencies and Brokerages
NAICS code 524210
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Lansing
In the Lansing area, 32 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 10) and received an average PPP loan of $55,141 (compared to this company's $25,180).
Similar Nearby Businesses Who Received PPP Funding:
Lamb Insurance Agency Inc
Insurance Market Advisors
Church Insurance Agency, Inc
A & R Benefits Inc
Insurance Market Advisor LLC
Dale & Michael Corporation
Stop 1 Insurance Agency 2 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, 60% lower than Stop 1 Insurance Agency #4 LLC's reported 10 employees, and received an average PPP loan of $39,254, 56% higher than this company's loan of $25,180.
FederalPay's PPP Information Policy
Footnotes & Information
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