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PPP Loan Data — Riza Hair NYC LLC, New York, NY

SBA PPP loan data, payroll data, and salaries for Riza Hair NYC LLC
NY

Riza Hair NYC LLC

Entity: Limited Liability Partnership

Industry: Beauty Salons

Location: New York, NY

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Riza Hair NYC LLC is a limited liability partnership located at 1334 3rd Ave in New York, New York that received a Coronavirus-related PPP loan from the SBA of $46,250.00 in January, 2021.

The company has reported itself as an Asian female owned business, and employed at least seven people during the applicable loan loan period.

$ PPP Loan Information
Loan #6046528301

Loan Size:

$46,250

Jobs Retained:

7

Loan Approved:

2021-01-26

Loan Status:

Ongoing Loan

Lender:

HSBC Bank USA, National Association

Riza Hair NYC LLC in New York, NY received a Paycheck Protection Loan of $46,250 through HSBC Bank USA, National Association, which was approved in January, 2021.

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.

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 More
Understanding 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 More

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, Riza Hair NYC LLC's 2019 payroll expenses are estimated to be at least $222,000.

Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $31,714 per employee1

Reported PPP Proceed Usage:

On the PPP application, Riza Hair NYC LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $46,248

Business Information - Riza Hair NYC LLC in New York, NY

Riza Hair NYC LLC
1334 3rd Ave
New York, NY 10075

Business Industry:
Beauty Salons
NAICS code 812112

Business Owner Demographics

Race: Asian

Ethnicity: Unreported

Gender: Female Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

New York County, NY — SBA Office 0202 — Congressional District: NY-12

Similar Companies near New York

In the New York area, 34 businesses in the "Beauty Salons" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 7) and received an average PPP loan of $37,799 (compared to this company's $46,250).

Industry PPP Comparison Statistics

Nationwide, 489,088 businesses in the "Beauty Salons" industry received a total of $9.13B 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, 71% lower than Riza Hair NYC LLC's reported 7 employees, and received an average PPP loan of $18,663, 60% lower than this company's loan of $46,250.

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.

Search FederalPay's Full PPP Loan Database

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.


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Source: www.federalpay.org/paycheck-protection-program/riza-hair-nyc-llc-new-york-ny