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PPP Loan Data — Panache Styling,
Old Greenwich, CT
Panache Styling
Entity: Sole Proprietorship
Industry: Beauty Salons
Location: Old Greenwich, CT
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Panache Styling is a sole proprietorship located at 182 Sound Beach Ave in Old Greenwich, Connecticut that received a Coronavirus-related PPP loan from the SBA of $83,865.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
11Loan Approved:
2020-04-30Lender:
BANK OF AMERICA, NATIONAL ASSOCIATIONPanache Styling in Old Greenwich, CT received a Paycheck Protection Loan of $83,865 through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Panache Styling's total 2019 payroll expenses were approximately $402,552 in order to qualify for the PPP loan amount received.
Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $36,596 per employee1.
Business Information - Panache Styling in Old Greenwich, CT
182 Sound Beach Ave
Old Greenwich, CT 6870
Business Industry
Beauty Salons (NAICS code 812112)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: CT-04Similar Companies near Old Greenwich
In the Old Greenwich area, 5 businesses in the "Beauty Salons" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 11) and received an average PPP loan of $131,248 (compared to this company's $83,865).
Similar Nearby Businesses Who Received PPP Funding:
Indulge Salon And Beauty Bar LLC
Old Greenwich, CT
Zen Bronze Custom Airbrush
Old Greenwich, CT
H & Y Inc
Old Greenwich, CT
Theodora Faugno
Old Greenwich, CT
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, 73% lower than Panache Styling's reported 11 employees, and received an average PPP loan of $23,518, 72% lower than this company's loan of $83,865.
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, and is published unmodified, as provided by the SBA.
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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