PPP Loan Data — The Collins Agency, LLC, Mobile, AL
The Collins Agency, LLC is a corporation located at 4366 Midmost Drive in Mobile, Alabama that received a Coronavirus-related PPP loan from the SBA of $25,442.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Hancock Whitney Bank
The Collins Agency, LLC in Mobile, AL received a Paycheck Protection Loan of $25,442 through Hancock Whitney Bank, 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, The Collins Agency, LLC's 2019 payroll expenses are estimated to be at least $122,122.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,707 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Collins Agency, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,442
Business Information - The Collins Agency, LLC in Mobile, AL
4366 Midmost Drive
Mobile, AL 36609
Insurance Agencies and Brokerages
NAICS code 524210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Mobile
In the Mobile area, 78 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 3) and received an average PPP loan of $26,753 (compared to this company's $25,442).
Similar Nearby Businesses Who Received PPP Funding:
Darrell M Butler
Paul Milazzo Insurance & Fiancial Services LLC
Goff Wealth Management
Richard L Otts Jr
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, 33% higher than The Collins Agency, LLC's reported 3 employees, and received an average PPP loan of $39,254, 54% higher than this company's loan of $25,442.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!