PPP Loan Data — MHM Beauty Inc, Lawndale, CA
MHM Beauty Inc is a corporation located at 15222 Hawthorne Blvd. in Lawndale, California that received a Coronavirus-related PPP loan from the SBA of $25,085.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Wells Fargo Bank, National Association
MHM Beauty Inc in Lawndale, CA received a Paycheck Protection Loan of $25,085 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, MHM Beauty Inc's 2019 payroll expenses are estimated to be at least $120,408.
Based on their reported 13 jobs retained, this equals an estimated average yearly compensation of $9,262 per employee1
Reported PPP Proceed Usage:
On the PPP application, MHM Beauty Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,085
Business Information - MHM Beauty Inc in Lawndale, CA
15222 Hawthorne Blvd.
Lawndale, CA 90260
NAICS code 999990
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Lawndale
In the Lawndale area, 15 businesses in the "Unclassified Establishments" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 13) and received an average PPP loan of $19,167 (compared to this company's $25,085).
Similar Nearby Businesses Who Received PPP Funding:
Startup Mavericks LLC
GAD Art & Fabrication Inc
Phamily Venture Group LLC
Mitch's List, Inc
Industry PPP Comparison Statistics
Nationwide, 85,647 businesses in the "Unclassified Establishments" industry received a total of $3.67B 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 10 employees, 23% lower than MHM Beauty Inc's reported 13 employees, and received an average PPP loan of $42,878, 71% higher than this company's loan of $25,085.
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Footnotes & Information
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