PPP Loan Data — Nails Today 1 LTD, Chicago, IL
Nails Today 1 LTD is a corporation located at 1546 W 95th St in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,003.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:International Bank of Chicago
Nails Today 1 LTD in Chicago, IL received a Paycheck Protection Loan of $25,003 through International Bank of Chicago, which was approved in January, 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, Nails Today 1 LTD's 2019 payroll expenses are estimated to be at least $120,014.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,002 per employee1
Reported PPP Proceed Usage:
On the PPP application, Nails Today 1 LTD reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,997
- Utilities: $1
Business Information - Nails Today 1 LTD in Chicago, IL
1546 W 95th St
Chicago, IL 60643
NAICS code 812113
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 106 businesses in the "Nail Salons" industry received a PPP loan. These local businesses reported an average of 1 employees (compared to this company's 6) and received an average PPP loan of $19,602 (compared to this company's $25,003).
Similar Nearby Businesses Who Received PPP Funding:
Morgan Park 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, 50% lower than Nails Today 1 LTD's reported 6 employees, and received an average PPP loan of $15,074, 40% lower than this company's loan of $25,003.
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Footnotes & Information
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