PPP Loan Data — Lumara Of NY Inc, Massapequa, NY
Lumara Of NY Inc is a subchapter s corporation located at 896 A North Broadway in Massapequa, New York that received a Coronavirus-related PPP loan from the SBA of $47,200.00 in June, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lumara Of NY Inc in Massapequa, NY received a Paycheck Protection Loan of $47,200 through Primis Bank, which was approved in June, 2020.
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, Lumara Of NY Inc's 2019 payroll expenses are estimated to be at least $226,560.
Based on their reported 15 jobs retained, this equals an estimated average yearly compensation of $15,104 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lumara Of NY Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,200
Business Information - Lumara Of NY Inc in Massapequa, NY
896 A North Broadway
Massapequa, NY 11758
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 Massapequa
In the Massapequa area, 65 businesses in the "Beauty Salons" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 15) and received an average PPP loan of $25,985 (compared to this company's $47,200).
Similar Nearby Businesses Who Received PPP Funding:
Lotus Skin Care Center & Medi Spa
Grand Central Hair Salon Inc
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, 87% lower than Lumara Of NY Inc's reported 15 employees, and received an average PPP loan of $18,663, 60% lower than this company's loan of $47,200.
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Footnotes & Information
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