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PPP Loan Data — Mario Tricoci Hair Salon And Spa Ee, LLC, Palatine, IL

SBA PPP loan data, payroll data, and salaries for Mario Tricoci Hair Salon And Spa Ee, LLC
IL

Mario Tricoci Hair Salon And Spa Ee, LLC

Entity: Limited Liability Company (LLC)

Industry: Beauty Salons

Location: Palatine, IL

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Mario Tricoci Hair Salon And Spa Ee, LLC is a limited liability company (LLC) located at Helen Rd in Palatine, Illinois that received a Coronavirus-related PPP loan from the SBA of $9,896,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$9.9M

Jobs Retained:

500

Loan Approved:

2020-04-08

Lender:

VILLAGE BANK AND TRUST, NATIONAL ASSOCIATION

Mario Tricoci Hair Salon And Spa Ee, LLC received a Paycheck Protection Loan of $9.9M through VILLAGE BANK AND TRUST, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Mario Tricoci Hair Salon And Spa Ee, LLC's total 2019 payroll expenses were approximately $47.5M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $95,002 per employee1.

Because the loan received by Mario Tricoci Hair Salon And Spa Ee, LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Mario Tricoci Hair Salon And Spa Ee, LLC in Palatine, IL

Mario Tricoci Hair Salon And Spa Ee, LLC
Helen Rd
Palatine, IL 60067

Business Industry

Beauty Salons (NAICS code 812112)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IL-06

Similar Companies near Palatine

In the Palatine area, 31 businesses in the "Beauty Salons" industry received a PPP loan. These local businesses reported an average of 22 employees (compared to this company's 500) and received an average PPP loan of $349,515 (compared to this company's $9.9M).

Industry PPP Comparison Statistics

Nationwide, 93,531 businesses in the "Beauty Salons" industry received a total of $2,199,660,018.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 3 employees, 99% lower than Mario Tricoci Hair Salon And Spa Ee, LLC's reported 500 employees, and received an average PPP loan of $23,518, 100% lower than this company's loan of $9.9M.

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.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/mario-tricoci-hair-salon-and-spa-ee-llc-palatine-il