PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Gina Agosta Inc, Novi, MI

ALERT: There are 2 PPP loans for a total of $474,480 in our database for businesses with the name "Gina Agosta Inc" in Novi, MI. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Gina Agosta Inc
MI

Gina Agosta Inc

Entity: Corporation

Industry: Beauty Salons

Location: Novi, MI

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Gina Agosta Inc is a corporation located at 39831 in Novi, Michigan that received a Coronavirus-related PPP loan from the SBA of $238,796.00 in January, 2021.

$ PPP Loan Information
Loan #9333988306

Loan Size:

$238,796

Jobs Retained:

39

Loan Approved:

2021-01-30

Loan Status:

Ongoing Loan

Lender:

Itria Ventures LLC

Gina Agosta Inc in Novi, MI received a Paycheck Protection Loan of $238,796 through Itria Ventures LLC, which was approved in January, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA. The loan's status was last updated by the SBA in November, -0001.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Gina Agosta Inc's 2019 payroll expenses are estimated to be at least $1.15M.

Based on their reported 39 jobs retained, this equals an estimated average yearly compensation of $29,390 per employee1

Reported PPP Proceed Usage:

On the PPP application, Gina Agosta Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $238,790
  • Utilities: $1

Business Information - Gina Agosta Inc in Novi, MI

Gina Agosta Inc
39831
Novi, MI 48375

Business Industry:
Beauty Salons
NAICS code 812112

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Oakland County, MI — SBA Office 0515 — Congressional District: MI-11

Similar Companies near Novi

In the Novi area, 50 businesses in the "Beauty Salons" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 39) and received an average PPP loan of $54,400 (compared to this company's $238,796).

Industry PPP Comparison Statistics

Nationwide, 459,305 businesses in the "Beauty Salons" industry received a total of $8.59B in PPP loans. These businesses account for 4% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 2 employees, 95% lower than Gina Agosta Inc's reported 39 employees, and received an average PPP loan of $18,694, 92% lower than this company's loan of $238,796.

SBA PPP loan data, payroll data, and salaries for Gina Agosta Inc
MI

Gina Agosta Inc

Entity: Corporation

Industry: Fitness and Recreational Sports Centers

Location: Novi, MI

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Gina Agosta Inc is a corporation located at 39831 Grand River Ave in Novi, Michigan that received a Coronavirus-related PPP loan from the SBA of $235,684.00 in May, 2020.

$ PPP Loan Information
Loan #6000627708

Loan Size:

$235,684

Jobs Retained:

41

Loan Approved:

2020-05-01

Loan Status:

Paid in Full or Forgiven

Lender:

Bank of America, National Association

Gina Agosta Inc in Novi, MI received a Paycheck Protection Loan of $235,684 through Bank of America, National Association, which was approved in May, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in October, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Gina Agosta Inc's 2019 payroll expenses are estimated to be at least $1.13M.

Based on their reported 41 jobs retained, this equals an estimated average yearly compensation of $27,592 per employee1

Reported PPP Proceed Usage:

On the PPP application, Gina Agosta Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $235,684

Business Information - Gina Agosta Inc in Novi, MI

Gina Agosta Inc
39831 Grand River Ave
Novi, MI 48375

Business Industry:
Fitness and Recreational Sports Centers
NAICS code 713940

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: New Business or 2 years or less

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Oakland County, MI — SBA Office 0515 — Congressional District: MI-11

Similar Companies near Novi

In the Novi area, 27 businesses in the "Fitness and Recreational Sports Centers" industry received a PPP loan. These local businesses reported an average of 71 employees (compared to this company's 41) and received an average PPP loan of $118,417 (compared to this company's $235,684).

Industry PPP Comparison Statistics

Nationwide, 61,280 businesses in the "Fitness and Recreational Sports Centers" industry received a total of $2.95B 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 12 employees, 71% lower than Gina Agosta Inc's reported 41 employees, and received an average PPP loan of $48,172, 80% lower than this company's loan of $235,684.

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/gina-agosta-inc-novi-mi