PPP Loan Data — WAX Bar La, La Ca??ada Flintridge, CA
WAX Bar La is a limited liability company (LLC) located at 838 1/2 Foothill Blvd in La Ca??ada Flintridge, California that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
The company has reported itself as a White female owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Fountainhead SBF LLC
WAX Bar La in La Ca??ada Flintridge, CA received a Paycheck Protection Loan of $25,000 through Fountainhead SBF LLC, 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, WAX Bar La's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, WAX Bar La reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - WAX Bar La in La Ca??ada Flintridge, CA
838 1/2 Foothill Blvd
La Ca??ada Flintridge, CA 91011
Other Personal Care Services
NAICS code 812199
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
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 La Ca??ada Flintridge
In the La Ca??ada Flintridge area, 5 businesses in the "Other Personal Care Services" 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 $10,107 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 76,411 businesses in the "Other Personal Care Services" industry received a total of $1.78B 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 WAX Bar La's reported 4 employees, and received an average PPP loan of $23,334, 7% lower than this company's loan of $25,000.
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Footnotes & Information
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