PPP Loan Data — Michelle Nail & Spa Inc, Visalia, CA
Michelle Nail & Spa Inc is a subchapter s corporation located at 3540 S. Mooney Blvd, Ste C in Visalia, California that received a Coronavirus-related PPP loan from the SBA of $46,204.00 in May, 2020.
The company has reported itself as a female owned business, and employed at least ten people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Beneficial State Bank
Michelle Nail & Spa Inc in Visalia, CA received a Paycheck Protection Loan of $46,204 through Beneficial State Bank, which was approved in May, 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.
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, Michelle Nail & Spa Inc's 2019 payroll expenses are estimated to be at least $221,779.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $22,178 per employee1
Reported PPP Proceed Usage:
On the PPP application, Michelle Nail & Spa Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,204
Business Information - Michelle Nail & Spa Inc in Visalia, CA
3540 S. Mooney Blvd, Ste C
Visalia, CA 93277
NAICS code 812113
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Visalia
In the Visalia area, 21 businesses in the "Nail Salons" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 10) and received an average PPP loan of $34,588 (compared to this company's $46,204).
Similar Nearby Businesses Who Received PPP Funding:
Hand2Love Nails And Spa
Michelle Nails And Spa Inc
Rockstar Nails & Spa Inc. DBA Rockstar Nails & Spa
Happiness Services Inc
Alexis Nails Inc
Bebe Nails & Spa Inc
Lenin Nails 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, 70% lower than Michelle Nail & Spa Inc's reported 10 employees, and received an average PPP loan of $15,074, 67% lower than this company's loan of $46,204.
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