PPP Loan Data — Goodfellas, Chattanooga, TN
Goodfellas is a limited liability company (LLC) located at 6227 Lee Hwy 113, in Chattanooga, Tennessee that received a Coronavirus-related PPP loan from the SBA of $25,300.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Goodfellas in Chattanooga, TN received a Paycheck Protection Loan of $25,300 through Regions Bank, which was approved in April, 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 February, 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, Goodfellas' 2019 payroll expenses are estimated to be at least $121,440.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,288 per employee1
Reported PPP Proceed Usage:
On the PPP application, Goodfellas reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,300
Business Information - Goodfellas in Chattanooga, TN
6227 Lee Hwy 113,
Chattanooga, TN 37421
NAICS code 812111
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Chattanooga
In the Chattanooga area, 19 businesses in the "Barber Shops" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 5) and received an average PPP loan of $13,691 (compared to this company's $25,300).
Similar Nearby Businesses Who Received PPP Funding:
Manuel Antonio Muniz
Goodfellas Barber Shoppe
Charles G. Andujar
Phix Boutique And Beauty, LLC
Industry PPP Comparison Statistics
Nationwide, 135,477 businesses in the "Barber Shops" industry received a total of $2.46B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 2 employees, 60% lower than Goodfellas' reported 5 employees, and received an average PPP loan of $18,164, 28% lower than this company's loan of $25,300.
FederalPay's PPP Information Policy
Footnotes & Information
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