PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Imperial Family Hair Center Inc, Hastings, NE

ALERT: There are 2 PPP loans for a total of $57,633 in our database for businesses with the name "Imperial Family Hair Center Inc" in Hastings, NE. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Imperial Family Hair Center Inc
NE

Imperial Family Hair Center Inc

Entity: Corporation

Industry: Barber Shops

Location: Hastings, NE

Search All PPP Data

Imperial Family Hair Center Inc is a corporation located at 2630 W 2nd St in Hastings, Nebraska that received a Coronavirus-related PPP loan from the SBA of $32,333.00 in February, 2021.

The company has reported itself as a White male owned business, and employed at least three people during the applicable loan loan period.

$ PPP Loan Information
Loan #1117368503

Loan Size:

$32,333

Jobs Retained:

3

Loan Approved:

2021-02-18

Loan Status:

Ongoing Loan

Lender:

Pinnacle Bank

Imperial Family Hair Center Inc in Hastings, NE received a Paycheck Protection Loan of $32,333 through Pinnacle Bank, which was approved in February, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Imperial Family Hair Center Inc's 2019 payroll expenses are estimated to be at least $155,198.

Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $51,733 per employee1

Reported PPP Proceed Usage:

On the PPP application, Imperial Family Hair Center Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $32,330
  • Utilities: $1

Business Information - Imperial Family Hair Center Inc in Hastings, NE

Imperial Family Hair Center Inc
2630 W 2nd St
Hastings, NE 68901

Business Industry:
Barber Shops
NAICS code 812111

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Adams County, NE — SBA Office 0766 — Congressional District: NE-03

Similar Companies near Hastings

In the Hastings area, 5 businesses in the "Barber Shops" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 3) and received an average PPP loan of $17,723 (compared to this company's $32,333).

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, 33% lower than Imperial Family Hair Center Inc's reported 3 employees, and received an average PPP loan of $18,164, 44% lower than this company's loan of $32,333.

SBA PPP loan data, payroll data, and salaries for Imperial Family Hair Center Inc
NE

Imperial Family Hair Center Inc

Entity: Corporation

Industry: Barber Shops

Location: Hastings, NE

Search All PPP Data

Imperial Family Hair Center Inc is a corporation located at 2630 West 2nd in Hastings, Nebraska that received a Coronavirus-related PPP loan from the SBA of $25,300.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least three people during the applicable loan loan period.

$ PPP Loan Information
Loan #4545237002

Loan Size:

$25,300

Jobs Retained:

3

Loan Approved:

2020-04-03

Loan Status:

Paid in Full or Forgiven

Lender:

Pinnacle Bank

Imperial Family Hair Center Inc in Hastings, NE received a Paycheck Protection Loan of $25,300 through Pinnacle 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

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Imperial Family Hair Center Inc's 2019 payroll expenses are estimated to be at least $121,440.

Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,480 per employee1

Reported PPP Proceed Usage:

On the PPP application, Imperial Family Hair Center Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $23,100
  • Utilities: $600
  • Rent: $1,600

Business Information - Imperial Family Hair Center Inc in Hastings, NE

Imperial Family Hair Center Inc
2630 West 2nd
Hastings, NE 68901

Business Industry:
Barber Shops
NAICS code 812111

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Adams County, NE — SBA Office 0766 — Congressional District: NE-03

Similar Companies near Hastings

In the Hastings area, 5 businesses in the "Barber Shops" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 3) and received an average PPP loan of $17,723 (compared to this company's $25,300).

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, 33% lower than Imperial Family Hair Center Inc's reported 3 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

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/imperial-family-hair-center-inc-hastings-ne