PPP Loan Data — XS Brokers Insurance Agency Inc, Quincy, MA
XS Brokers Insurance Agency Inc is a subchapter s corporation located at 13 Temple St in Quincy, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $2,574,766.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 130 people during the applicable loan loan period.
$ PPP Loan Information
XS Brokers Insurance Agency Inc received a Paycheck Protection Loan of $2.57M through MOUNTAINONE BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, XS Brokers Insurance Agency Inc's total 2019 payroll expenses were approximately $12.36M in order to qualify for the PPP loan amount received.
Based on their reported 130 jobs retained, this equals an estimated average yearly compensation of $95,068 per employee1.
Business Information - XS Brokers Insurance Agency Inc in Quincy, MA
13 Temple St
Quincy, MA 2169
Insurance Agencies and Brokerages (NAICS code 524210)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: MA-08
Similar Companies near Quincy
In the Quincy area, 15 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 130) and received an average PPP loan of $244,751 (compared to this company's $2.57M).
Similar Nearby Businesses Who Received PPP Funding:
Tonry Insurance Group Inc
Albert J Marchionne Insurance Agency Inc
Robert H. Cook Insurance Agency Inc.
Flavin Insurance Agency Inc
Tobman Molignano And Weiner
DPS Insurance Group, Inc
Duyen T Nguyen
RFD 406A Advisors Inc
Industry PPP Comparison Statistics
Nationwide, 90,958 businesses in the "Insurance Agencies and Brokerages" industry received a total of $4,494,836,388.00 in PPP loans. These businesses account for 2% 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, 97% lower than XS Brokers Insurance Agency Inc's reported 130 employees, and received an average PPP loan of $49,417, 98% lower than this company's loan of $2.57M.
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