PPP Loan Data — Thomas R. Eoff, Jacksonville, IL
Thomas R. Eoff is a sole proprietorship located at 275 N Westgate Ave in Jacksonville, Illinois that received a Coronavirus-related PPP loan from the SBA of $46,600.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Thomas R. Eoff in Jacksonville, IL received a Paycheck Protection Loan of $46,600 through Marine Bank, 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 January, 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, Thomas R. Eoff's 2019 payroll expenses are estimated to be at least $223,680.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $74,560 per employee1
Reported PPP Proceed Usage:
On the PPP application, Thomas R. Eoff reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,600
Business Information - Thomas R. Eoff in Jacksonville, IL
275 N Westgate Ave
Jacksonville, IL 62650
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 Jacksonville
In the Jacksonville area, 17 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 $24,518 (compared to this company's $46,600).
Similar Nearby Businesses Who Received PPP Funding:
Wiegand Insurance Agency, Inc
Robert Turner Agency Inc
Lucas R Turner Insurance And Financial Services LLC
South Jacksonville, IL
The Robb Mudd Agency Inc
Tim Hughes Insurance Agency
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 Thomas R. Eoff's reported 3 employees, and received an average PPP loan of $39,254, 16% lower than this company's loan of $46,600.
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Footnotes & Information
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