PPP Loan Data — Queen Beauty Corporation, Ewing, NJ
Queen Beauty Corporation is a subchapter s corporation located at 1560a N Olden Avenue Ext in Ewing, New Jersey that received a Coronavirus-related PPP loan from the SBA of $25,219.00 in January, 2021.
The company has reported itself as a female owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:The Bank of Princeton
Queen Beauty Corporation in Ewing, NJ received a Paycheck Protection Loan of $25,219 through The Bank of Princeton, 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, Queen Beauty Corporation's 2019 payroll expenses are estimated to be at least $121,051.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,263 per employee1
Reported PPP Proceed Usage:
On the PPP application, Queen Beauty Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,215
- Utilities: $1
Business Information - Queen Beauty Corporation in Ewing, NJ
1560a N Olden Avenue Ext
Ewing, NJ 8638
Cosmetics, Beauty Supplies, and Perfume Stores
NAICS code 446120
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: Y
Rural / Urban: Urban
Similar Companies near Ewing
In the Ewing area, 7 businesses in the "Cosmetics, Beauty Supplies, and Perfume Stores" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 4) and received an average PPP loan of $23,248 (compared to this company's $25,219).
Similar Nearby Businesses Who Received PPP Funding:
Kim, Jeoungsup (Hair Xpo)
Queen Beauty Corporation
Olden Beauty Supply LLC
Industry PPP Comparison Statistics
Nationwide, 42,410 businesses in the "Cosmetics, Beauty Supplies, and Perfume Stores" industry received a total of $959.22M 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, 25% lower than Queen Beauty Corporation's reported 4 employees, and received an average PPP loan of $22,618, 10% lower than this company's loan of $25,219.
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Footnotes & Information
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