PPP Loan Data — Hair Zone Inc, Moonachie, NJ
Hair Zone Inc
Location: Moonachie, NJTweet This • Search All PPP Data
Hair Zone Inc is a corporation located at 10 State St in Moonachie, New Jersey that received a Coronavirus-related PPP loan from the SBA of $1,595,200.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of Hope
Hair Zone Inc in Moonachie, NJ received a Paycheck Protection Loan of $1.6M through Bank of Hope, which was approved in April, 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, Hair Zone Inc's 2019 payroll expenses are estimated to be at least $7.66M.
Based on their reported 93 jobs retained, this equals an estimated average yearly compensation of $82,333 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hair Zone Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,595,200
Business Information - Hair Zone Inc in Moonachie, NJ
10 State St
Moonachie, NJ 7074
Piece Goods, Notions, and Other Dry Goods Merchant Wholesalers
NAICS code 424310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Moonachie
In the Moonachie area, 11 businesses in the "Piece Goods, Notions, and Other Dry Goods Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 41 employees (compared to this company's 93) and received an average PPP loan of $550,831 (compared to this company's $1.6M).
Similar Nearby Businesses Who Received PPP Funding:
Oradell International Corp
Sun Taiyang Co., LTD
Mane Concept, Inc
Oradell Intrntl Corp & Omnipex
Mane Concept Inc
Wood Ridge, NJ
Modern Sportswear Corp
Nipkow & Kobelt Inc
Industry PPP Comparison Statistics
Nationwide, 3,874 businesses in the "Piece Goods, Notions, and Other Dry Goods Merchant Wholesalers" industry received a total of $303.26M 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 8 employees, 91% lower than Hair Zone Inc's reported 93 employees, and received an average PPP loan of $78,280, 95% lower than this company's loan of $1.6M.
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