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PPP Loan Data — 246 Spring Street (NY), LLC,
New York, NY
246 Spring Street (NY), LLC
Entity: Limited Liability Company (LLC)
Industry: Hotels (except Casino Hotels) and Motels
Location: New York, NY
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246 Spring Street (NY), LLC is a limited liability company (LLC) located at 246 Spring St in New York, New York that received a Coronavirus-related PPP loan from the SBA of $6,283,517.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
328Loan Approved:
2020-04-28Lender:
CITY NATIONAL BANK246 Spring Street (NY), LLC in New York, NY received a Paycheck Protection Loan of $6.28M through CITY NATIONAL BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, 246 Spring Street (NY), LLC's total 2019 payroll expenses were approximately $30.16M in order to qualify for the PPP loan amount received.
Based on their reported 328 jobs retained, this equals an estimated average yearly compensation of $91,954 per employee1.
Business Information - 246 Spring Street (NY), LLC in New York, NY
246 Spring St
New York, NY 10013
Business Industry
Hotels (except Casino Hotels) and Motels (NAICS code 721110)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: NY-10Similar Companies near New York
In the New York area, 34 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 71 employees (compared to this company's 328) and received an average PPP loan of $960,984 (compared to this company's $6.28M).
Similar Nearby Businesses Who Received PPP Funding:
Cromwell Soho Operating LLC
New York, NY
Plan DO See America, Inc
New York, NY
Soho House New York LLC
New York, NY
7 Cornelia Hospitality, LLC
New York, NY
City Rooms Holding LLC
New York, NY
153 Elizabeth Hotel LLC
New York, NY
Hotel Mulberry Corp
New York, NY
WSA NY-Manager LLC
New York, NY
Pacific 4, LLC
New York, NY
Industry PPP Comparison Statistics
Nationwide, 41,528 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $6,692,184,447.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 21 employees, 94% lower than 246 Spring Street (NY), LLC's reported 328 employees, and received an average PPP loan of $161,149, 97% lower than this company's loan of $6.28M.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan. All information displayed on this page is publicly available information under PPP loan guidelines, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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