PPP Loan Data — Jenny's Hair Salon, LLC, Columbia, MD
Jenny's Hair Salon, LLC is a limited liability company (LLC) located at 5560 Sterrett Place #120 in Columbia, Maryland that received a Coronavirus-related PPP loan from the SBA of $25,285.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Jenny's Hair Salon, LLC in Columbia, MD received a Paycheck Protection Loan of $25,285 through Bank of America, 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 February, 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, Jenny's Hair Salon, LLC's 2019 payroll expenses are estimated to be at least $121,368.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,456 per employee1
Reported PPP Proceed Usage:
On the PPP application, Jenny's Hair Salon, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,285
Business Information - Jenny's Hair Salon, LLC in Columbia, MD
5560 Sterrett Place #120
Columbia, MD 21044
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 Columbia
In the Columbia area, 178 businesses in the "Beauty Salons" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 3) and received an average PPP loan of $27,280 (compared to this company's $25,285).
Similar Nearby Businesses Who Received PPP Funding:
Glitter Skin Studio LLC
Ellicott City, MD
Evelyn C. Danclair
Ellicott City, MD
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, 33% lower than Jenny's Hair Salon, LLC's reported 3 employees, and received an average PPP loan of $18,663, 26% lower than this company's loan of $25,285.
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Footnotes & Information
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