PPP Loan Data — Katie's Nails & Spa, Halifax, PA
Katie's Nails & Spa is a sole proprietorship located at 3714 Peters Mountain Road in Halifax, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $25,400.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Mid Penn Bank
Katie's Nails & Spa in Halifax, PA received a Paycheck Protection Loan of $25,400 through Mid Penn Bank, which was approved in May, 2020.
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
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, Katie's Nails & Spa's 2019 payroll expenses are estimated to be at least $121,920.
Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $11,084 per employee1
Reported PPP Proceed Usage:
On the PPP application, Katie's Nails & Spa reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,400
Business Information - Katie's Nails & Spa in Halifax, PA
3714 Peters Mountain Road
Halifax, PA 17032
NAICS code 812112
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Halifax
In the Halifax area, 23 businesses in the "Beauty Salons" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 11) and received an average PPP loan of $43,877 (compared to this company's $25,400).
Similar Nearby Businesses Who Received PPP Funding:
Styles On Chocolate, Inc
Franco Design Group Inc
Steele Hair Salon, LLC
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, 82% lower than Katie's Nails & Spa's reported 11 employees, and received an average PPP loan of $18,663, 27% lower than this company's loan of $25,400.
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Footnotes & Information
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