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PPP Loan Data — 250 Fourth Development, LP, San Francisco, CA

SBA PPP loan data, payroll data, and salaries for 250 Fourth Development, LP
CA

250 Fourth Development, LP

Entity: Partnership

Industry: Hotels (except Casino Hotels) and Motels

Location: San Francisco, CA

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250 Fourth Development, LP is a partnership located at 250 4th St. in San Francisco, California that received a Coronavirus-related PPP loan from the SBA of $2,515,600.00 in April, 2020.

The company has reported itself as an Asian male owned business, and employed at least 200 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$2.52M

Jobs Retained:

200

Loan Approved:

2020-04-07

Lender:

EAST WEST BANK

250 Fourth Development, LP received a Paycheck Protection Loan of $2.52M through EAST WEST BANK, which was approved in April, 2020.

2019 Payroll Estimations based On PPP Amount:

Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 0.

Based on standard PPP eligibility rules, 250 Fourth Development, LP's total 2019 payroll expenses were approximately $12.07M in order to qualify for the PPP loan amount received.

Based on their reported 200 jobs retained, this equals an estimated average yearly compensation of $60,374 per employee1.

Because the loan received by 250 Fourth Development, LP is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - 250 Fourth Development, LP in San Francisco, CA

250 Fourth Development, LP
250 4th St.
San Francisco, CA 94103

Business Industry

Hotels (except Casino Hotels) and Motels (NAICS code 721110)

Business Owner Demographics

Race / Ethnicity: ASIAN

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: CA-12

Similar Companies near San Francisco

In the San Francisco area, 64 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 25 employees (compared to this company's 200) and received an average PPP loan of $305,333 (compared to this company's $2.52M).

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, 90% lower than 250 Fourth Development, LP's reported 200 employees, and received an average PPP loan of $161,149, 94% lower than this company's loan of $2.52M.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/250-fourth-development-lp-san-francisco-ca