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PPP Loan Data — Lovely Nails II, Saginaw, MI

SBA PPP loan data, payroll data, and salaries for Lovely Nails II
MI

Lovely Nails II

Entity: Sole Proprietorship

Industry: Nail Salons

Location: Saginaw, MI

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Lovely Nails II is a sole proprietorship located in Saginaw, Michigan that received a Coronavirus-related PPP loan from the SBA of $14,000.00 in January, 2021.

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

$ PPP Loan Information
Loan #5494278308

Loan Size:

$14,000

Jobs Retained:

1

Loan Approved:

2021-01-25

Loan Status:

Ongoing Loan

Lender:

The Huntington National Bank

Lovely Nails II in Saginaw, MI received a Paycheck Protection Loan of $14,000 through The Huntington National Bank, 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. The loan's status was last updated by the SBA in November, -0001.


PPP Calculation Note: The total PPP loan an eligible business or individual can receive is based on 2.5 times their average monthly 2019 payroll expenses, capped at $100,000 annually per employee.

Reported PPP Proceed Usage:

On the PPP application, Lovely Nails II reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $13,998
  • Utilities: $1

Business Information - Lovely Nails II in Saginaw, MI

Lovely Nails II
Saginaw, MI
* Full address is redacted to protect the privacy of individuals.

Business Industry:
Nail Salons
NAICS code 812113

Business Owner Demographics

Race: Asian

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Rural

Saginaw County, MI — SBA Office 0515 — Congressional District: MI-05

Similar Companies near Saginaw

In the Saginaw area, 15 businesses in the "Nail Salons" industry received a PPP loan. These local businesses reported an average of 1 employees (compared to this company's 1) and received an average PPP loan of $12,498 (compared to this company's $14,000).

Industry PPP Comparison Statistics

Nationwide, 107,452 businesses in the "Nail Salons" industry received a total of $1.62B 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, 200% higher than Lovely Nails II's reported 1 employees, and received an average PPP loan of $15,065, 8% higher than this company's loan of $14,000.

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.

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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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Source: www.federalpay.org/paycheck-protection-program/lovely-nails-ii-saginaw-mi