PPP Loan Data — Shardas Beauty Salon Inc, Bloomingdale, IL
Shardas Beauty Salon Inc is a subchapter s corporation located at 398 W Army Trail Rd Ste 126 in Bloomingdale, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,213.00 in January, 2021.
PPP Loan Information
Loan Status:Active Un-Disbursed
Lender:First Secure Community Bank
Shardas Beauty Salon Inc in Bloomingdale, IL received a Paycheck Protection Loan of $25,213 through First Secure Community Bank, which was approved in January, 2021.
While this loan has been approved by the Small Business Administration, the lender has not reported to the SBA that the loan funds were disbursed to the borrower. According to SBA records, a total of $25,213 in approved PPP funding has not been disbursed. 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, Shardas Beauty Salon Inc's 2019 payroll expenses are estimated to be at least $121,022.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,204 per employee1
Reported PPP Proceed Usage:
On the PPP application, Shardas Beauty Salon Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,213
Business Information - Shardas Beauty Salon Inc in Bloomingdale, IL
398 W Army Trail Rd Ste 126
Bloomingdale, IL 60108
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 Bloomingdale
In the Bloomingdale area, 111 businesses in the "Beauty Salons" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 5) and received an average PPP loan of $20,067 (compared to this company's $25,213).
Similar Nearby Businesses Who Received PPP Funding:
Expresiones Salon Inc
Erlinda V Gomez
Meagan De La Torre
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 Shardas Beauty Salon Inc's reported 5 employees, and received an average PPP loan of $18,663, 26% lower than this company's loan of $25,213.
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