PPP Loan Data — WAX Lounge DBA Behold Salon And Spa, Wayne, PA
WAX Lounge DBA Behold Salon And Spa is a limited liability company (LLC) located at 134 North Wayne Avenue Suite 101 in Wayne, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $25,427.00 in May, 2020.
The company has reported itself as a female owned business, and employed at least eight people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Wells Fargo Bank, National Association
WAX Lounge DBA Behold Salon And Spa in Wayne, PA received a Paycheck Protection Loan of $25,427 through Wells Fargo Bank, National Association, which was approved in May, 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 Lounge DBA Behold Salon And Spa's 2019 payroll expenses are estimated to be at least $122,050.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $15,256 per employee1
Reported PPP Proceed Usage:
On the PPP application, WAX Lounge DBA Behold Salon And Spa reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,427
Business Information - WAX Lounge DBA Behold Salon And Spa in Wayne, PA
134 North Wayne Avenue Suite 101
Wayne, PA 19087
NAICS code 812112
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 Wayne
In the Wayne area, 39 businesses in the "Beauty Salons" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 8) and received an average PPP loan of $151,696 (compared to this company's $25,427).
Similar Nearby Businesses Who Received PPP Funding:
Bleu Mousse Salon Inc
Lauren Kleinstuber Inc
EUN Kyoung Koh
Silvia N. Macwilliams Inc
Main Line Wax LLC
Lorraine & Co, Inc
JAY Michael At Radnor
Saint Davids, PA
Industry PPP Comparison Statistics
Nationwide, 489,088 businesses in the "Beauty Salons" industry received a total of $9.13B in PPP loans. These businesses account for 4% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 2 employees, 75% lower than WAX Lounge DBA Behold Salon And Spa's reported 8 employees, and received an average PPP loan of $18,663, 27% lower than this company's loan of $25,427.
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Footnotes & Information
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