PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Magic Moment Photo Booth - Elevated Event Desgin, Willowbrook, IL

SBA PPP loan data, payroll data, and salaries for Magic Moment Photo Booth - Elevated Event Desgin
IL

Magic Moment Photo Booth - Elevated Event Desgin

Entity: Sole Proprietorship

Industry: Photography Studios, Portrait

Location: Willowbrook, IL

Search All PPP Data

Magic Moment Photo Booth - Elevated Event Desgin is a sole proprietorship located in Willowbrook, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,199.00 in June, 2020.

$ PPP Loan Information
Loan #4508888006

Loan Size:

$25,199

Jobs Retained:

1

Loan Approved:

2020-06-26

Loan Status:

Paid in Full or Forgiven

Lender:

JPMorgan Chase Bank, National Association
Likely Employment Reduction3

Magic Moment Photo Booth - Elevated Event Desgin in Willowbrook, IL received a Paycheck Protection Loan of $25,199 through JPMorgan Chase Bank, National Association, 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 May, 2021.

The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 1 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.

The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.


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, Magic Moment Photo Booth - Elevated Event Desgin reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $15,114
  • Utilities: $3,017
  • Rent: $7,068

Business Information - Magic Moment Photo Booth - Elevated Event Desgin in Willowbrook, IL

Magic Moment Photo Booth - Elevated Event Desgin
Willowbrook, IL
* Full address is redacted to protect the privacy of individuals.

Business Industry:
Photography Studios, Portrait
NAICS code 541921

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: N

HUBZone: N

Rural / Urban: Urban

Dupage County, IL — SBA Office 0507 — Congressional District: IL-11

Similar Companies near Willowbrook

In the Willowbrook area, 5 businesses in the "Photography Studios, Portrait" industry received a PPP loan. These local businesses reported an average of 51 employees (compared to this company's 1) and received an average PPP loan of $476,850 (compared to this company's $25,199).

Industry PPP Comparison Statistics

Nationwide, 37,991 businesses in the "Photography Studios, Portrait" industry received a total of $597.82M 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 2 employees, 100% higher than Magic Moment Photo Booth - Elevated Event Desgin's reported 1 employees, and received an average PPP loan of $15,736, 38% lower than this company's loan of $25,199.

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.

Search FederalPay's Full PPP Loan Database

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.

3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/magic-moment-photo-booth-elevated-event-desgin-willowbrook-il