PPP Loan Data — Charles Penzone, Inc., Powell, OH
Charles Penzone, Inc. is a corporation located at 1480 Manning Parkway in Powell, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,520,800.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 371 people during the applicable loan loan period.
$ PPP Loan Information
Lender:THE HUNTINGTON NATIONAL BANK
Charles Penzone, Inc. in Powell, OH received a Paycheck Protection Loan of $2.52M through THE HUNTINGTON NATIONAL BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Charles Penzone, Inc.'s total 2019 payroll expenses were approximately $12.1M in order to qualify for the PPP loan amount received.
Based on their reported 371 jobs retained, this equals an estimated average yearly compensation of $32,614 per employee1.
Business Information - Charles Penzone, Inc. in Powell, OH
1480 Manning Parkway
Powell, OH 43065
Beauty Salons (NAICS code 812112)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: OH-12
Similar Companies near Powell
In the Powell area, 29 businesses in the "Beauty Salons" industry received a PPP loan. These local businesses reported an average of 15 employees (compared to this company's 371) and received an average PPP loan of $116,834 (compared to this company's $2.52M).
Similar Nearby Businesses Who Received PPP Funding:
Beautiful Skin By Jenn LLC
Royal Rhino Club LTD
Jmac Hair Studio, LLC
MRM Beauty LLC
Megan Odenweller DBA Megan Odenweller
Industry PPP Comparison Statistics
Nationwide, 93,531 businesses in the "Beauty Salons" industry received a total of $2,199,660,018.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 3 employees, 99% lower than Charles Penzone, Inc.'s reported 371 employees, and received an average PPP loan of $23,518, 99% lower than this company's loan of $2.52M.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan. All information displayed on this page is publicly available information under PPP loan guidelines, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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