PPP Loan Data — Varel Inc. DBA Prestige Body Sculpting, Sherman Oaks, CA
Varel Inc. DBA Prestige Body Sculpting is a corporation located at 15300 Ventura Blvd Ste 200a in Sherman Oaks, California that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:JPMorgan Chase Bank, National Association
Varel Inc. DBA Prestige Body Sculpting in Sherman Oaks, CA received a Paycheck Protection Loan of $25,000 through JPMorgan Chase Bank, National Association, which was approved in May, 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, Varel Inc. DBA Prestige Body Sculpting'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, Varel Inc. DBA Prestige Body Sculpting reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $18,750
- Utilities: $500
- Rent: $2,900
- Debt Interest: $2,850
Business Information - Varel Inc. DBA Prestige Body Sculpting in Sherman Oaks, CA
15300 Ventura Blvd Ste 200a
Sherman Oaks, CA 91403
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
PPP recipients in this industry report an average of 0 employees, 100% lower than Varel Inc. DBA Prestige Body Sculpting's reported 5 employees, and received an average PPP loan of $0, 100% lower than this company's loan of $25,000.
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Footnotes & Information
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