PPP Loan Data — Magic Moment Photo Booth - Elevated Event Desgin, Willowbrook, IL
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 Status:Paid in Full or Forgiven
Lender:JPMorgan Chase Bank, National Association
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.
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
* Full address is redacted to protect the privacy of individuals.
Photography Studios, Portrait
NAICS code 541921
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
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).
Similar Nearby Businesses Who Received PPP Funding:
Pirrello Digital Imaging Inc
Heidi Peters Photography Limited
La Grange Park, IL
Heidi Peters Photography Limited
Lagrange Park, IL
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
Footnotes & Information
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.
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