PPP Loan Data — SPA Nails, Depew, NY
Entity: Sole Proprietorship
Location: Depew, NYTweet This • Search All PPP Data
SPA Nails is a sole proprietorship located at 5175 Broadway in Depew, New York that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in July, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Cross River Bank
SPA Nails in Depew, NY received a Paycheck Protection Loan of $25,000 through Cross River Bank, which was approved in July, 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 April, 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, SPA Nails' 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, SPA Nails reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - SPA Nails in Depew, NY
Depew, NY 14043
All Other Professional, Scientific, and Technical Services
NAICS code 541990
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Depew
In the Depew area, 7 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 5) and received an average PPP loan of $59,725 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Cortese Construction Services, Inc
Ignition Interlock Of Erie County Inc
Cchoke Productions LLC
Leading Edge Performance
Industry PPP Comparison Statistics
Nationwide, 129,763 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a total of $7.41B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, the same amount reported by SPA Nails and received an average PPP loan of $57,091, 128% higher than this company's loan of $25,000.
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Footnotes & Information
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