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

PPP Loan Data — Left Bank Nails & Spa Inc, Fort Worth, TX

ALERT: There are 2 PPP loans for a total of $44,603 in our database for businesses with the name "Left Bank Nails & Spa Inc" in Fort Worth, TX. 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 Left Bank Nails & Spa Inc
TX

Left Bank Nails & Spa Inc

Entity: Subchapter S Corporation

Industry: Beauty Salons

Location: Fort Worth, TX

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Left Bank Nails & Spa Inc is a subchapter s corporation located at 629 Stayton St Ste 121 in Fort Worth, Texas that received a Coronavirus-related PPP loan from the SBA of $19,763.00 in April, 2021.

The company has reported itself as an Asian male owned business, and employed at least five people during the applicable loan loan period.

$ PPP Loan Information
Loan #7011418809

Loan Size:

$19,763

Jobs Retained:

5

Loan Approved:

2021-04-21

Loan Status:

Ongoing Loan

Lender:

American Lending Center

Left Bank Nails & Spa Inc in Fort Worth, TX received a Paycheck Protection Loan of $19,763 through American Lending Center, which was approved in April, 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, Left Bank Nails & Spa Inc's 2019 payroll expenses are estimated to be at least $94,862.

Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $18,972 per employee1

Reported PPP Proceed Usage:

On the PPP application, Left Bank Nails & Spa Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $19,761
  • Utilities: $1

Business Information - Left Bank Nails & Spa Inc in Fort Worth, TX

Left Bank Nails & Spa Inc
629 Stayton St Ste 121
Fort Worth, TX 76107

Business Industry:
Beauty Salons
NAICS code 812112

Business Owner Demographics

Race: Asian

Ethnicity: Unreported

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

Tarrant County, TX — SBA Office 0610 — Congressional District: TX-12

Similar Companies near Fort Worth

In the Fort Worth area, 174 businesses in the "Beauty Salons" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 5) and received an average PPP loan of $28,523 (compared to this company's $19,763).

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, 60% lower than Left Bank Nails & Spa Inc's reported 5 employees, and received an average PPP loan of $18,663, 6% lower than this company's loan of $19,763.

SBA PPP loan data, payroll data, and salaries for Left Bank Nails & Spa Inc
TX

Left Bank Nails & Spa Inc

Entity: Subchapter S Corporation

Industry: Nail Salons

Location: Fort Worth, TX

Search All PPP Data

Left Bank Nails & Spa Inc is a subchapter s corporation located at 629 in Fort Worth, Texas that received a Coronavirus-related PPP loan from the SBA of $24,840.00 in January, 2021.

The company has reported itself as an Asian male owned business, and employed at least six people during the applicable loan loan period.

$ PPP Loan Information
Loan #9718518306

Loan Size:

$24,840

Jobs Retained:

6

Loan Approved:

2021-01-31

Loan Status:

Ongoing Loan

Lender:

Itria Ventures LLC

Left Bank Nails & Spa Inc in Fort Worth, TX received a Paycheck Protection Loan of $24,840 through Itria Ventures LLC, which was approved in January, 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, Left Bank Nails & Spa Inc's 2019 payroll expenses are estimated to be at least $119,232.

Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $19,872 per employee1

Reported PPP Proceed Usage:

On the PPP application, Left Bank Nails & Spa Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $24,838
  • Utilities: $1

Business Information - Left Bank Nails & Spa Inc in Fort Worth, TX

Left Bank Nails & Spa Inc
629
Fort Worth, TX 76107

Business Industry:
Nail Salons
NAICS code 812113

Business Owner Demographics

Race: Asian

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: Y

Rural / Urban: Urban

Tarrant County, TX — SBA Office 0610 — Congressional District: TX-12

Similar Companies near Fort Worth

In the Fort Worth area, 32 businesses in the "Nail Salons" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 6) and received an average PPP loan of $22,480 (compared to this company's $24,840).

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, 50% lower than Left Bank Nails & Spa Inc's reported 6 employees, and received an average PPP loan of $15,074, 39% lower than this company's loan of $24,840.

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/left-bank-nails-spa-inc-fort-worth-tx