PPP Loan Data — House Of Divas Boutique, Miami, FL
House Of Divas Boutique is a corporation located at 10503 Sw 40th St in Miami, Florida that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Cross River Bank
House Of Divas Boutique in Miami, FL received a Paycheck Protection Loan of $25,000 through Cross River Bank, 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, House Of Divas Boutique's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, House Of Divas Boutique reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,200
- Refinance EIDL: $22,800
Business Information - House Of Divas Boutique in Miami, FL
10503 Sw 40th St
Miami, FL 33165
NAICS code 452210
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Miami
In the Miami area, 3 businesses in the "Department Stores" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 2) and received an average PPP loan of $48,871 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Image Duty-Free Services Inc
Industry PPP Comparison Statistics
Nationwide, 1,344 businesses in the "Department Stores" industry received a total of $70.33M 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 9 employees, 350% higher than House Of Divas Boutique's reported 2 employees, and received an average PPP loan of $52,327, 109% higher than this company's loan of $25,000.
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Footnotes & Information
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