PPP Loan Data — Star Salon And Spa, Cotati, CA
Star Salon And Spa is a sole proprietorship located at 566 E. Cotati Ave in Cotati, California that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Star Salon And Spa in Cotati, CA received a Paycheck Protection Loan of $25,000 through Redwood CU, which was approved in April, 2020.
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, Star Salon And Spa's 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, Star Salon And Spa reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $18,750
- Utilities: $1,250
- Rent: $5,000
Business Information - Star Salon And Spa in Cotati, CA
566 E. Cotati Ave
Cotati, CA 94931
NAICS code 812113
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Cotati
In the Cotati area, 14 businesses in the "Nail 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 $15,272 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Minh Thi Thai Nguyen
Chantel Estrada & Diane Vanroyen
Trendy Nail Spa
Industry PPP Comparison Statistics
Nationwide, 111,177 businesses in the "Nail Salons" industry received a total of $1.68B 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, 40% lower than Star Salon And Spa's reported 5 employees, and received an average PPP loan of $15,074, 40% lower than this company's loan of $25,000.
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Footnotes & Information
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