PPP Loan Data — Tammy Allison Insurance Agency Inc, Weaverville, NC
Tammy Allison Insurance Agency Inc is a subchapter s corporation located at 41 Monticello Rd in Weaverville, North Carolina that received a Coronavirus-related PPP loan from the SBA of $47,200.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First-Citizens Bank & Trust Company
Tammy Allison Insurance Agency Inc in Weaverville, NC received a Paycheck Protection Loan of $47,200 through First-Citizens Bank & Trust Company, 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, Tammy Allison Insurance Agency Inc's 2019 payroll expenses are estimated to be at least $226,560.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $32,366 per employee1
Reported PPP Proceed Usage:
On the PPP application, Tammy Allison Insurance Agency Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,200
Business Information - Tammy Allison Insurance Agency Inc in Weaverville, NC
41 Monticello Rd
Weaverville, NC 28787
Insurance Agencies and Brokerages
NAICS code 524210
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Weaverville
In the Weaverville area, 16 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 7) and received an average PPP loan of $32,019 (compared to this company's $47,200).
Similar Nearby Businesses Who Received PPP Funding:
The Tarrants Agency Inc
Christopher Dee Moore Insurance Services Inc
Petey Pat Inc
Angie Franklin INS Agcy, Inc
Trout Insurance Services Inc
John Wesley Kilby Insurance Services Inc
RM Church Insurance Agency Inc
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 Tammy Allison Insurance Agency Inc's reported 7 employees, and received an average PPP loan of $39,254, 17% lower than this company's loan of $47,200.
FederalPay's PPP Information Policy
Footnotes & Information
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