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PPP Loan Data — Secret Charm LLC,
Los Angeles, CA
Secret Charm LLC
Entity: Limited Liability Company (LLC)
Industry: Women's, Children's, and Infants' Clothing and Accessories Merchant Wholesalers
Location: Los Angeles, CA
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Secret Charm LLC is a limited liability company (LLC) located at 1433 Walnut St in Los Angeles, California that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.
The company has reported itself as a male owned business, and employed at least 122 people during the applicable loan loan period.
$
PPP Loan Information
Loan #8031248405
Loan Size:
Jobs Retained:
122Loan Approved:
2021-02-12Loan Status:
Ongoing LoanLender:
Newtek Small Business Finance, Inc.Secret Charm LLC in Los Angeles, CA received a Paycheck Protection Loan of $2M through Newtek Small Business Finance, Inc., which was approved in February, 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 MoreUnderstanding 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 MoreBased 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, Secret Charm LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 122 jobs retained, this equals an estimated average yearly compensation of $78,689 per employee1
Reported PPP Proceed Usage:
On the PPP application, Secret Charm LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,000,000
Business Information - Secret Charm LLC in Los Angeles, CA
1433 Walnut St
Los Angeles, CA 90011
Business Industry:
Women's, Children's, and Infants' Clothing and Accessories Merchant Wholesalers
NAICS code 424330
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Los Angeles
In the Los Angeles area, 104 businesses in the "Women's, Children's, and Infants' Clothing and Accessories Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 122) and received an average PPP loan of $108,392 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Sam Jung USA, Inc
Los Angeles, CA
Will B Inc
Los Angeles, CA
Richard W. Kim
Los Angeles, CA
Reunion Apparel Inc
Los Angeles, CA
One53Studio, Inc
Los Angeles, CA
Ellie Clothing Inc
Los Angeles, CA
J One Trading, Inc
Los Angeles, CA
Alfredo Lopez
Los Angeles, CA
Cest Toi Jeans, Inc
Los Angeles, CA
Industry PPP Comparison Statistics
Nationwide, 18,969 businesses in the "Women's, Children's, and Infants' Clothing and Accessories Merchant Wholesalers" industry received a total of $909.5M 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 4 employees, 97% lower than Secret Charm LLC's reported 122 employees, and received an average PPP loan of $47,946, 98% lower than this company's loan of $2M.
Secret Charm LLC
Entity: Limited Liability Company (LLC)
Industry: All Other Miscellaneous Textile Product Mills
Location: Los Angeles, CA
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Secret Charm LLC is a limited liability company (LLC) located at 1433 Walnut St in Los Angeles, California that received a Coronavirus-related PPP loan from the SBA of $3,383,392.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 237 people during the applicable loan loan period.
$
PPP Loan Information
Loan #7032517110
Loan Size:
Jobs Retained:
237Loan Approved:
2020-04-14Loan Status:
Paid in Full or ForgivenLender:
OneWest Bank, A Division ofSecret Charm LLC in Los Angeles, CA received a Paycheck Protection Loan of $3.38M through OneWest Bank, A Division of, 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 October, 2021.
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 MoreUnderstanding 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 MoreBased 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, Secret Charm LLC's 2019 payroll expenses are estimated to be at least $16.24M.
Based on their reported 237 jobs retained, this equals an estimated average yearly compensation of $68,524 per employee1
Reported PPP Proceed Usage:
On the PPP application, Secret Charm LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,600,000
- Utilities: $50,000
- Rent: $500,000
- Health Care: $133,392
- Debt Interest: $100,000
Business Information - Secret Charm LLC in Los Angeles, CA
1433 Walnut St
Los Angeles, CA 90011
Business Industry:
All Other Miscellaneous Textile Product Mills
NAICS code 314999
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Los Angeles
In the Los Angeles area, 3 businesses in the "All Other Miscellaneous Textile Product Mills" industry received a PPP loan. These local businesses reported an average of 84 employees (compared to this company's 237) and received an average PPP loan of $1,166,855 (compared to this company's $3.38M).
Similar Nearby Businesses Who Received PPP Funding:
Libas LTD
Los Angeles, CA
J & J Cutting & Marking Inc
Los Angeles, CA
Industry PPP Comparison Statistics
Nationwide, 2,777 businesses in the "All Other Miscellaneous Textile Product Mills" industry received a total of $363.88M 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 14 employees, 94% lower than Secret Charm LLC's reported 237 employees, and received an average PPP loan of $131,033, 96% lower than this company's loan of $3.38M.
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.
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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