PPP Loan Data — Foxy Lady Boutique Of NY. Inc, Brooklyn, NY
Foxy Lady Boutique Of NY. Inc is a subchapter s corporation located at 3993 Bedford Ave in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $25,470.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Foxy Lady Boutique Of NY. Inc in Brooklyn, NY received a Paycheck Protection Loan of $25,470 through JPMorgan Chase Bank, National Association, which was approved in January, 2021.
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, Foxy Lady Boutique Of NY. Inc's 2019 payroll expenses are estimated to be at least $122,256.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $15,282 per employee1
Reported PPP Proceed Usage:
On the PPP application, Foxy Lady Boutique Of NY. Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,468
- Utilities: $1
Business Information - Foxy Lady Boutique Of NY. Inc in Brooklyn, NY
3993 Bedford Ave
Brooklyn, NY 11229
Women's Clothing Stores
NAICS code 448120
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Brooklyn
In the Brooklyn area, 11 businesses in the "Women's Clothing Stores" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 8) and received an average PPP loan of $24,004 (compared to this company's $25,470).
Similar Nearby Businesses Who Received PPP Funding:
Lotus Bridal New York Inc
Lotus Bridal Long Island Inc
Allen Pan Corp Inc
Nelly's Creation Inc
Wallabout Trading Co Inc
Marions Boutique Ss Inc
Becky's Fashion, LLC
Industry PPP Comparison Statistics
Nationwide, 43,984 businesses in the "Women's Clothing Stores" industry received a total of $1.11B 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, 63% lower than Foxy Lady Boutique Of NY. Inc's reported 8 employees, and received an average PPP loan of $25,247, 1% lower than this company's loan of $25,470.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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