PPP Loan Data — 424 Third Ave Pittsburgh LLC, Pittsburgh, PA
424 Third Ave Pittsburgh LLC is a limited liability company (LLC) located at 453 Boulevard Of The Allies in Pittsburgh, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $251,923.00 in May, 2020.
$ PPP Loan Information
Lender:THE HUNTINGTON NATIONAL BANK
424 Third Ave Pittsburgh LLC received a Paycheck Protection Loan of $251,923 through THE HUNTINGTON NATIONAL BANK, which was approved in May, 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, 424 Third Ave Pittsburgh LLC's total 2019 payroll expenses were approximately $1.21M in order to qualify for the PPP loan amount received.
Based on their reported 29 jobs retained, this equals an estimated average yearly compensation of $41,698 per employee1.
Business Information - 424 Third Ave Pittsburgh LLC in Pittsburgh, PA
453 Boulevard Of The Allies
Pittsburgh, PA 15219
Hotels (except Casino Hotels) and Motels (NAICS code 721110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: PA-18
Similar Companies near Pittsburgh
In the Pittsburgh area, 6 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 92 employees (compared to this company's 29) and received an average PPP loan of $1,086,330 (compared to this company's $251,923).
Similar Nearby Businesses Who Received PPP Funding:
Omni Pittsburgh Corporation
MJ Pittsburgh Dt, LLC
Elmpros Hotel, LLC
Bvwm Fort Pitt Trs, LLC
600 William Penn Place Associates Master Tenant, LP
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, 28% lower than 424 Third Ave Pittsburgh LLC's reported 29 employees, and received an average PPP loan of $161,149, 36% lower than this company's loan of $251,923.
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.
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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