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PPP Loan Data — Moxie Management Group LLC,
Walnut, CA
FRANCHISE
CAMoxie Management Group LLC
Entity: Limited Liability Company (LLC)
Industry: Beauty Salons
Franchise: Moxie Salon and Beauty Bar f/k/a Moxie Blowdry and Beauty Bar
Location: Walnut, CA
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Moxie Management Group LLC is a limited liability company (LLC) located at 340 S Lemon St in Walnut, California that received a Coronavirus-related PPP loan from the SBA of $4,398,500.00 in April, 2020. This business is a Moxie Salon and Beauty Bar f/k/a Moxie Blowdry and Beauty Bar franchise.
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PPP Loan Information
Loan #8281667006
Loan Size:
Jobs Retained:
3Loan Approved:
2020-04-08Loan Status:
Ongoing LoanLender:
Zions Bank, A Division ofMoxie Management Group LLC in Walnut, CA received a Paycheck Protection Loan of $4.4M through Zions Bank, A Division of, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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 3 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 211. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Moxie Management Group LLC's 2019 payroll expenses are estimated to be at least $21.11M (not accounting for salary amounts > $100k).
Because the 3 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Moxie Management Group LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,398,500
Business Information - Moxie Management Group LLC in Walnut, CA
340 S Lemon St
Walnut, CA 91789
Business Industry:
Beauty Salons
NAICS code 812112
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: New Business or 2 years or less
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Moxie Management Group LLC.
Partners_Transportation
Limousine Service
Similar Companies near Walnut
In the Walnut area, 42 businesses in the "Beauty Salons" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 3) and received an average PPP loan of $124,734 (compared to this company's $4.4M).
Similar Nearby Businesses Who Received PPP Funding:
Shengyu Piao
Diamond Bar, CA
Skin Perfect Medical Aesthetics Inc
Walnut, CA
Diana Goytia Kruise
Walnut, CA
Marilyn Zalamea
Walnut, CA
Shine International Corporation
Diamond Bar, CA
HYE Jeong Kim
Diamond Bar, CA
Nail Galleria
Walnut, CA
Hair Affair
Diamond Bar, CA
Industry PPP Comparison Statistics
Nationwide, 458,411 businesses in the "Beauty Salons" industry received a total of $8.57B in PPP loans. These businesses account for 4% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 2 employees, 33% lower than Moxie Management Group LLC's reported 3 employees, and received an average PPP loan of $18,686, 100% lower than this company's loan of $4.4M.
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.
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.
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