PPP Loan Data — Hector D Vanegas Jr, Dedham, MA
Hector D Vanegas Jr is a sole proprietorship located at 5 Stergis Way in Dedham, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $47,200.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Citizens Bank, National Association
Hector D Vanegas Jr in Dedham, MA received a Paycheck Protection Loan of $47,200 through Citizens Bank, National Association, 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, Hector D Vanegas Jr's 2019 payroll expenses are estimated to be at least $226,560.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $56,640 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hector D Vanegas Jr reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,200
Business Information - Hector D Vanegas Jr in Dedham, MA
5 Stergis Way
Dedham, MA 2026
Other Personal Care Services
NAICS code 812199
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Dedham
In the Dedham area, 5 businesses in the "Other Personal Care Services" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 4) and received an average PPP loan of $20,965 (compared to this company's $47,200).
Similar Nearby Businesses Who Received PPP Funding:
Essential Advanced Skincare And Medspa
Essential Advanced Skincare & Medspa LLC
Industry PPP Comparison Statistics
Nationwide, 76,411 businesses in the "Other Personal Care Services" industry received a total of $1.78B 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, 25% lower than Hector D Vanegas Jr's reported 4 employees, and received an average PPP loan of $23,334, 51% lower than this company's loan of $47,200.
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Footnotes & Information
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