PPP Loan Data — Lynn Nail Services, Marietta, GA
Lynn Nail Services is a limited liability company (LLC) located at 1401 Johnson Ferry Road Ste 388 in Marietta, Georgia that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
The company has reported itself as a female owned business, and employed at least twenty people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Wells Fargo Bank, National Association
Lynn Nail Services in Marietta, GA received a Paycheck Protection Loan of $25,000 through Wells Fargo Bank, National Association, which was approved in May, 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, Lynn Nail Services' 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 20 jobs retained, this equals an estimated average yearly compensation of $6,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lynn Nail Services reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Lynn Nail Services in Marietta, GA
1401 Johnson Ferry Road Ste 388
Marietta, GA 30062
NAICS code 812113
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Marietta
In the Marietta area, 34 businesses in the "Nail Salons" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 20) and received an average PPP loan of $10,582 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
HA Thi T Nguyen
Nails By Susan, Inc
Parisian Nail Salon East Cobb Inc
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, 85% lower than Lynn Nail Services' reported 20 employees, and received an average PPP loan of $15,074, 40% lower than this company's loan of $25,000.
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Footnotes & Information
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