PPP Loan Data — T-Spa Nails,Inc, Tumwater, WA
T-Spa Nails,Inc is a professional association located at 408 Cleveland Avenue Southeast in Tumwater, Washington that received a Coronavirus-related PPP loan from the SBA of $46,595.00 in April, 2020.
The company has reported itself as an Asian female owned business, and employed at least eleven people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Celtic Bank Corporation
T-Spa Nails,Inc in Tumwater, WA received a Paycheck Protection Loan of $46,595 through Celtic Bank Corporation, 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, T-Spa Nails,Inc's 2019 payroll expenses are estimated to be at least $223,656.
Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $20,332 per employee1
Reported PPP Proceed Usage:
On the PPP application, T-Spa Nails,Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $34,946
- Utilities: $5,824
- Rent: $5,824
Business Information - T-Spa Nails,Inc in Tumwater, WA
408 Cleveland Avenue Southeast
Tumwater, WA 98501
All Other Personal Services
NAICS code 812990
Business Owner Demographics
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Tumwater
In the Tumwater area, 19 businesses in the "All Other Personal Services" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 11) and received an average PPP loan of $23,841 (compared to this company's $46,595).
Similar Nearby Businesses Who Received PPP Funding:
Naomi Wheeler Lmt
T Spa Nails LLC
Washington School Principals Education Foundation
Race Cascadia, LLC
Focus Fitness LLC DBA Define Fitness And Barre
Industry PPP Comparison Statistics
Nationwide, 237,729 businesses in the "All Other Personal Services" industry received a total of $5.63B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 3 employees, 73% lower than T-Spa Nails,Inc's reported 11 employees, and received an average PPP loan of $23,676, 49% lower than this company's loan of $46,595.
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Footnotes & Information
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