PPP Loan Data — Salon Roula Inc, Evanston, IL
Salon Roula Inc is a corporation located at 603 Davis Street in Evanston, Illinois that received a Coronavirus-related PPP loan from the SBA of $45,942.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Salon Roula Inc in Evanston, IL received a Paycheck Protection Loan of $45,942 through Byline Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in December, 2020.
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, Salon Roula Inc's 2019 payroll expenses are estimated to be at least $220,522.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $44,104 per employee1
Reported PPP Proceed Usage:
On the PPP application, Salon Roula Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,942
Business Information - Salon Roula Inc in Evanston, IL
603 Davis Street
Evanston, IL 60201
NAICS code 812112
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Evanston
In the Evanston area, 188 businesses in the "Beauty Salons" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 5) and received an average PPP loan of $26,103 (compared to this company's $45,942).
Similar Nearby Businesses Who Received PPP Funding:
M L Weatherford LLC
Melissa Scott Bouzi
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, 60% lower than Salon Roula Inc's reported 5 employees, and received an average PPP loan of $18,663, 59% lower than this company's loan of $45,942.
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Footnotes & Information
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