PPP Loan Data — Trust Assoc INS, Elk Grove, CA
Trust Assoc INS is a sole proprietorship located at 2234 Longport Ct Suite 120 in Elk Grove, California that received a Coronavirus-related PPP loan from the SBA of $24,820.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Wells Fargo Bank, National Association
Trust Assoc INS in Elk Grove, CA received a Paycheck Protection Loan of $24,820 through Wells Fargo Bank, National Association, which was approved in May, 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, Trust Assoc INS's 2019 payroll expenses are estimated to be at least $119,136.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $23,827 per employee1
Reported PPP Proceed Usage:
On the PPP application, Trust Assoc INS reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,820
Business Information - Trust Assoc INS in Elk Grove, CA
2234 Longport Ct Suite 120
Elk Grove, CA 95758
All Other Insurance Related Activities
NAICS code 524298
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Elk Grove
In the Elk Grove area, 3 businesses in the "All Other Insurance Related Activities" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 5) and received an average PPP loan of $19,446 (compared to this company's $24,820).
Similar Nearby Businesses Who Received PPP Funding:
RLE Insurance Agency
Elk Grove, CA
Damendra Ram DBA All State Insurance
Elk Grove, CA
Industry PPP Comparison Statistics
Nationwide, 12,557 businesses in the "All Other Insurance Related Activities" industry received a total of $538.36M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 4 employees, 20% lower than Trust Assoc INS's reported 5 employees, and received an average PPP loan of $42,873, 73% higher than this company's loan of $24,820.
FederalPay's PPP Information Policy
Footnotes & Information
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