PPP Loan Data — SAP Spa, LLC, Miami, FL
SAP Spa, LLC is a limited liability company (LLC) located at 8450 Nw 53rd Street in Miami, Florida that received a Coronavirus-related PPP loan from the SBA of $46,600.00 in April, 2020. This business is a Hand and Stone Massage and Facial Spa franchise.
The company has reported itself as a male owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Federal Savings Bank
SAP Spa, LLC in Miami, FL received a Paycheck Protection Loan of $46,600 through First Federal Savings 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 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, SAP Spa, LLC's 2019 payroll expenses are estimated to be at least $223,680.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $55,920 per employee1
Reported PPP Proceed Usage:
On the PPP application, SAP Spa, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,600
Business Information - SAP Spa, LLC in Miami, FL
8450 Nw 53rd Street
Miami, FL 33166
Other Personal Care Services
NAICS code 812199
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Miami
In the Miami area, 47 businesses in the "Other Personal Care Services" industry received a PPP loan. These local businesses reported an average of 1 employees (compared to this company's 4) and received an average PPP loan of $13,613 (compared to this company's $46,600).
Similar Nearby Businesses Who Received PPP Funding:
Lilia Mabel Calcines Castillo
North Miami, FL
SAP Spa LLC
Industry PPP Comparison Statistics
Nationwide, 76,411 businesses in the "Other Personal Care Services" industry received a total of $1.78B 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 SAP Spa, LLC's reported 4 employees, and received an average PPP loan of $23,334, 50% lower than this company's loan of $46,600.
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Footnotes & Information
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