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PPP Loan Data — Legends Barbershop LLC,
Stamford, CT
Legends Barbershop LLC
Entity: Limited Liability Company (LLC)
Industry: Beauty Salons
Location: Stamford, CT
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Legends Barbershop LLC is a limited liability company (LLC) located at 370 W Main St N/a in Stamford, Connecticut that received a Coronavirus-related PPP loan from the SBA of $61,270.00 in April, 2021.
$
PPP Loan Information
Loan #9125558704
Loan Size:
Jobs Retained:
7Loan Approved:
2021-04-08Loan Status:
Ongoing LoanLender:
Customers BankLegends Barbershop LLC in Stamford, CT received a Paycheck Protection Loan of $61,270 through Customers Bank, 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. The loan's status was last updated by the SBA in November, -0001.
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 MoreUnderstanding 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 MoreBased 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, Legends Barbershop LLC's 2019 payroll expenses are estimated to be at least $294,096.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $42,014 per employee1
Reported PPP Proceed Usage:
On the PPP application, Legends Barbershop LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $61,267
- Utilities: $1
Business Information - Legends Barbershop LLC in Stamford, CT
370 W Main St N/a
Stamford, CT 6902
Business Industry:
Beauty Salons
NAICS code 812112
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Stamford
In the Stamford area, 91 businesses in the "Beauty Salons" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 7) and received an average PPP loan of $28,265 (compared to this company's $61,270).
Similar Nearby Businesses Who Received PPP Funding:
Threading Brow Bar LLC
Stamford, CT
Tricia Stewart
Stamford, CT
Sweeney Todds Hair Design Inc
Stamford, CT
Anny Matos
Stamford, CT
Total Designes By Bunny & CoDBA Elan
Stamford, CT
Salon Roshawn
Stamford, CT
Town Center Barber Inc
Stamford, CT
Michael Vaughn
Stamford, CT
New Styles Unisex LLC
Stamford, CT
Industry PPP Comparison Statistics
Nationwide, 459,305 businesses in the "Beauty Salons" industry received a total of $8.59B 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, 71% lower than Legends Barbershop LLC's reported 7 employees, and received an average PPP loan of $18,694, 69% lower than this company's loan of $61,270.
Legends Barbershop LLC
Entity: Limited Liability Company (LLC)
Industry: All Other Professional, Scientific, and Technical Services
Location: Stamford, CT
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Legends Barbershop LLC is a limited liability company (LLC) located at 370 West Main Street in Stamford, Connecticut that received a Coronavirus-related PPP loan from the SBA of $20,833.00 in June, 2020.
$
PPP Loan Information
Loan #7831987804
Loan Size:
Jobs Retained:
14Loan Approved:
2020-06-04Loan Status:
Paid in Full or ForgivenLender:
Celtic Bank CorporationLegends Barbershop LLC in Stamford, CT received a Paycheck Protection Loan of $20,833 through Celtic Bank Corporation, 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 August, 2021.
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 MoreUnderstanding 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 MoreBased 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, Legends Barbershop LLC's 2019 payroll expenses are estimated to be at least $99,998.
Based on their reported 14 jobs retained, this equals an estimated average yearly compensation of $7,143 per employee1
Reported PPP Proceed Usage:
On the PPP application, Legends Barbershop LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $15,625
- Utilities: $2,604
- Rent: $2,604
Business Information - Legends Barbershop LLC in Stamford, CT
370 West Main Street
Stamford, CT 6902
Business Industry:
All Other Professional, Scientific, and Technical Services
NAICS code 541990
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Stamford
In the Stamford area, 75 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 14) and received an average PPP loan of $115,250 (compared to this company's $20,833).
Similar Nearby Businesses Who Received PPP Funding:
Propwizard
Stamford, CT
Soundview Cameras LLC
Stamford, CT
John Patrick Inc
Stamford, CT
Natasha Williams DBA Natasha Williams Consulting
Stamford, CT
Flatterysalomon LLC
Stamford, CT
GB3 LLC
Stamford, CT
Graciela Isabel Sanchez
Stamford, CT
Iskap Partners LLC
Stamford, CT
Kevin Doughney LLC
Stamford, CT
Industry PPP Comparison Statistics
Nationwide, 128,302 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a total of $7.37B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, 64% lower than Legends Barbershop LLC's reported 14 employees, and received an average PPP loan of $57,481, 176% higher than this company's loan of $20,833.
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.
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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