PPP Loan Data — Super Nails, Hayward, CA
Super Nails is a sole proprietorship located at 20948 Mission Blvd in Hayward, California that received a Coronavirus-related PPP loan from the SBA of $25,225.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Bank of the Lake
Super Nails in Hayward, CA received a Paycheck Protection Loan of $25,225 through First Bank of the Lake, which was approved in January, 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 More
Understanding 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 More
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, Super Nails' 2019 payroll expenses are estimated to be at least $121,080.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,270 per employee1
Reported PPP Proceed Usage:
On the PPP application, Super Nails reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,222
- Utilities: $1
Business Information - Super Nails in Hayward, CA
20948 Mission Blvd
Hayward, CA 94541
NAICS code 812113
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Hayward
In the Hayward area, 15 businesses in the "Nail Salons" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 4) and received an average PPP loan of $15,274 (compared to this company's $25,225).
Similar Nearby Businesses Who Received PPP Funding:
Royal Nail Bar Inc
Hoang C. Nguyen
Forever Young Nail And Skin Care
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, 25% lower than Super Nails' reported 4 employees, and received an average PPP loan of $15,074, 40% lower than this company's loan of $25,225.
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Footnotes & Information
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