PPP Loan Data — Tuohy Agency, Inc, Huntington, NY
Tuohy Agency, Inc is a subchapter s corporation located at 233 Main St in Huntington, New York that received a Coronavirus-related PPP loan from the SBA of $24,900.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Financial Bank
Tuohy Agency, Inc in Huntington, NY received a Paycheck Protection Loan of $24,900 through First Financial 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, Tuohy Agency, Inc's 2019 payroll expenses are estimated to be at least $119,520.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $59,760 per employee1
Reported PPP Proceed Usage:
On the PPP application, Tuohy Agency, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,900
Business Information - Tuohy Agency, Inc in Huntington, NY
233 Main St
Huntington, NY 11743
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: Urban
Similar Companies near Huntington
In the Huntington area, 63 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 2) and received an average PPP loan of $58,737 (compared to this company's $24,900).
Similar Nearby Businesses Who Received PPP Funding:
Titlesave Agency Inc
Brooks & Brooks Insurance Agency Inc
Cavallino Risk Management Inc
Keefe Consulting Corp
Kelly A Schumacher Insurance Agency Inc
M. Williamson & Associates Inc
Agent Resources, 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, 100% higher than Tuohy Agency, Inc's reported 2 employees, and received an average PPP loan of $39,254, 58% higher than this company's loan of $24,900.
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Footnotes & Information
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