PPP Loan Data — Jennifer Odister DBA Southside Salon And Spa, Chattanooga, TN
Jennifer Odister DBA Southside Salon And Spa is a sole proprietorship located at 1265 Market St Ste 100 in Chattanooga, Tennessee that received a Coronavirus-related PPP loan from the SBA of $24,810.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Horizon Bank
Jennifer Odister DBA Southside Salon And Spa in Chattanooga, TN received a Paycheck Protection Loan of $24,810 through First Horizon Bank, 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, Jennifer Odister DBA Southside Salon And Spa's 2019 payroll expenses are estimated to be at least $119,088.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $29,772 per employee1
Reported PPP Proceed Usage:
On the PPP application, Jennifer Odister DBA Southside Salon And Spa reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,810
Business Information - Jennifer Odister DBA Southside Salon And Spa in Chattanooga, TN
1265 Market St Ste 100
Chattanooga, TN 37402
NAICS code 812112
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Chattanooga
In the Chattanooga area, 30 businesses in the "Beauty Salons" 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 $23,452 (compared to this company's $24,810).
Similar Nearby Businesses Who Received PPP Funding:
Juliet's Beauty Lounge LLC
The French Quarter
The Strand LLC
Lauren Kimberly Nagotte
Constance Fay Stephens
Industry PPP Comparison Statistics
Nationwide, 489,088 businesses in the "Beauty Salons" industry received a total of $9.13B in PPP loans. These businesses account for 4% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 2 employees, 50% lower than Jennifer Odister DBA Southside Salon And Spa's reported 4 employees, and received an average PPP loan of $18,663, 25% lower than this company's loan of $24,810.
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Footnotes & Information
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