PPP Loan Data — Creative Nails & Waxing, Redmond, OR
Creative Nails & Waxing is a sole proprietorship located at 950 Sw Veterans Way Suite 101 in Redmond, Oregon that received a Coronavirus-related PPP loan from the SBA of $25,200.00 in August, 2020.
The company has reported itself as an Asian female owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Creative Nails & Waxing in Redmond, OR received a Paycheck Protection Loan of $25,200 through Umpqua Bank, which was approved in August, 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, Creative Nails & Waxing's 2019 payroll expenses are estimated to be at least $120,960.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,192 per employee1
Reported PPP Proceed Usage:
On the PPP application, Creative Nails & Waxing reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,200
Business Information - Creative Nails & Waxing in Redmond, OR
950 Sw Veterans Way Suite 101
Redmond, OR 97756
NAICS code 812113
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Redmond
In the Redmond area, 10 businesses in the "Nail Salons" 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 $12,920 (compared to this company's $25,200).
Similar Nearby Businesses Who Received PPP Funding:
Sonia C Folston
M & S Huynh LLC
Lotus Nails And Spa
Industry PPP Comparison Statistics
Nationwide, 111,177 businesses in the "Nail Salons" industry received a total of $1.68B 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 3 employees, 40% lower than Creative Nails & Waxing's reported 5 employees, and received an average PPP loan of $15,074, 40% lower than this company's loan of $25,200.
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Footnotes & Information
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