PPP Loan Data — Trinh Hoang DBA Exotic Nails And Spa, Watertown, MA
Trinh Hoang DBA Exotic Nails And Spa is a limited liability company (LLC) located at 609 Mount Auburn St in Watertown, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $25,447.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Trinh Hoang DBA Exotic Nails And Spa in Watertown, MA received a Paycheck Protection Loan of $25,447 through Eastern Bank, which was approved in April, 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, Trinh Hoang DBA Exotic Nails And Spa's 2019 payroll expenses are estimated to be at least $122,146.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $61,073 per employee1
Reported PPP Proceed Usage:
On the PPP application, Trinh Hoang DBA Exotic Nails And Spa reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,447
Business Information - Trinh Hoang DBA Exotic Nails And Spa in Watertown, MA
609 Mount Auburn St
Watertown, MA 2472
NAICS code 812113
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Watertown
In the Watertown area, 6 businesses in the "Nail Salons" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 2) and received an average PPP loan of $24,716 (compared to this company's $25,447).
Similar Nearby Businesses Who Received PPP Funding:
Leisure Nails And Spa LLC
K & S Nail & Spa Inc
Diamond Nails Salon
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, 50% higher than Trinh Hoang DBA Exotic Nails And Spa's reported 2 employees, and received an average PPP loan of $15,074, 41% lower than this company's loan of $25,447.
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Footnotes & Information
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