PPP Loan Data — Hong V Vu, Vancouver, WA
Hong V Vu is a sole proprietorship located at 9316 76th St Ne in Vancouver, Washington that received a Coronavirus-related PPP loan from the SBA of $25,155.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:U.S. Bank, National Association
Hong V Vu in Vancouver, WA received a Paycheck Protection Loan of $25,155 through U.S. Bank, 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 May, 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, Hong V Vu's 2019 payroll expenses are estimated to be at least $120,744.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,186 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hong V Vu reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,155
Business Information - Hong V Vu in Vancouver, WA
9316 76th St Ne
Vancouver, WA 98662
NAICS code 812113
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Vancouver
In the Vancouver area, 33 businesses in the "Nail Salons" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 4) and received an average PPP loan of $18,926 (compared to this company's $25,155).
Similar Nearby Businesses Who Received PPP Funding:
S&A Nails Salon And Spa LLC
Priscilla Nail 1 Salon LLC
T&J Beauty LLC
Industry PPP Comparison Statistics
Nationwide, 111,177 businesses in the "Nail Salons" industry received a total of $1.68B 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 Hong V Vu's reported 4 employees, and received an average PPP loan of $15,074, 40% lower than this company's loan of $25,155.
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Footnotes & Information
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