PPP Loan Data — Lily's Nails And Spa, Macungie, PA
Lily's Nails And Spa
Location: Macungie, PATweet This • Search All PPP Data
Lily's Nails And Spa is a corporation located at 6465 Village Ln Ste 6 in Macungie, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $25,095.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Fulton Bank, National Association
Lily's Nails And Spa in Macungie, PA received a Paycheck Protection Loan of $25,095 through Fulton Bank, National Association, which was approved in January, 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, Lily's Nails And Spa's 2019 payroll expenses are estimated to be at least $120,456.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $17,208 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lily's Nails And Spa reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,093
- Utilities: $1
Business Information - Lily's Nails And Spa in Macungie, PA
6465 Village Ln Ste 6
Macungie, PA 18062
All Other Professional, Scientific, and Technical Services
NAICS code 541990
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Macungie
In the Macungie area, 10 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 7) and received an average PPP loan of $23,430 (compared to this company's $25,095).
Similar Nearby Businesses Who Received PPP Funding:
Tuscany Group LLC
CRG Energy Consultants Inc
Eagle Bentley Group Inc
Mid-Atlantic Technology Professionals, LLC
Gobe Design LLC
Industry PPP Comparison Statistics
Nationwide, 129,763 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a total of $7.41B 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, 29% lower than Lily's Nails And Spa's reported 7 employees, and received an average PPP loan of $57,091, 127% higher than this company's loan of $25,095.
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Footnotes & Information
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