PPP Loan Data — Wave Length Salon & Spa, Latham, NY
Wave Length Salon & Spa is a sole proprietorship located at 453 Troy-schenectady Road in Latham, New York that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:KeyBank National Association
Wave Length Salon & Spa in Latham, NY received a Paycheck Protection Loan of $25,000 through KeyBank National Association, 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, Wave Length Salon & Spa's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $13,333 per employee1
Reported PPP Proceed Usage:
On the PPP application, Wave Length Salon & Spa reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Wave Length Salon & Spa in Latham, NY
453 Troy-schenectady Road
Latham, NY 12110
NAICS code 812111
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Latham
In the Latham area, 11 businesses in the "Barber Shops" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 9) and received an average PPP loan of $12,451 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Maestro Barbershop Of Latham 2 LLC
Castle Barbershop, LLC
Bruno's Barber Shop
Siena Barbershop LLC
Mane Solution Hlc LLC
Industry PPP Comparison Statistics
Nationwide, 135,477 businesses in the "Barber Shops" industry received a total of $2.46B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 2 employees, 78% lower than Wave Length Salon & Spa's reported 9 employees, and received an average PPP loan of $18,164, 27% lower than this company's loan of $25,000.
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Footnotes & Information
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