PPP Loan Data — SBG Group LLC DBA The Bar Method, Scarsdale, NY
SBG Group LLC DBA The Bar Method is a limited liability company (LLC) located at 7 Popham Rd Ste 305 in Scarsdale, New York that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in January, 2021. This business is a The Bar Method franchise.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
SBG Group LLC DBA The Bar Method in Scarsdale, NY received a Paycheck Protection Loan of $25,000 through JPMorgan Chase Bank, National Association, 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, SBG Group LLC DBA The Bar Method's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 33 jobs retained, this equals an estimated average yearly compensation of $3,636 per employee1
Reported PPP Proceed Usage:
On the PPP application, SBG Group LLC DBA The Bar Method reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,997
- Utilities: $1
Business Information - SBG Group LLC DBA The Bar Method in Scarsdale, NY
7 Popham Rd Ste 305
Scarsdale, NY 10583
All Other Personal Services
NAICS code 812990
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Scarsdale
In the Scarsdale area, 27 businesses in the "All Other Personal Services" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 33) and received an average PPP loan of $20,941 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Lennys Auto LTD
NU Mint Nail Corp
Current Home, LLC
Universal Marketing & Promotions
Triple7 Group Inc
Industry PPP Comparison Statistics
Nationwide, 237,729 businesses in the "All Other Personal Services" industry received a total of $5.63B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 3 employees, 91% lower than SBG Group LLC DBA The Bar Method's reported 33 employees, and received an average PPP loan of $23,676, 5% lower than this company's loan of $25,000.
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Footnotes & Information
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