PPP Loan Data — Joanne T Phung LLC, Howell, NJ
Joanne T Phung LLC is a limited liability company (LLC) located at 4114 Route 9 South in Howell, New Jersey that received a Coronavirus-related PPP loan from the SBA of $24,879.00 in June, 2020.
The company has reported itself as a female owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Joanne T Phung LLC in Howell, NJ received a Paycheck Protection Loan of $24,879 through Benworth Capital, which was approved in June, 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 March, 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, Joanne T Phung LLC's 2019 payroll expenses are estimated to be at least $119,419.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $23,884 per employee1
Reported PPP Proceed Usage:
On the PPP application, Joanne T Phung LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,879
Business Information - Joanne T Phung LLC in Howell, NJ
4114 Route 9 South
Howell, NJ 7731
NAICS code 812113
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Howell
In the Howell area, 29 businesses in the "Nail Salons" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 5) and received an average PPP loan of $22,122 (compared to this company's $24,879).
Similar Nearby Businesses Who Received PPP Funding:
Highlights Hair & Nail Designs Inc
Bond Beauty Products LLC
Wall Township, NJ
Leewood Nails LLC
XO Nails & Spa 2 LLC
L & H Beauty Services 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, 40% lower than Joanne T Phung LLC's reported 5 employees, and received an average PPP loan of $15,074, 39% lower than this company's loan of $24,879.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!