FederalPay.org
PPP Loan Data — American Youth Hostels Inc,
Silver Spring, MD
American Youth Hostels Inc
Entity: Non-profit Organization
Industry: All Other Traveler Accommodation
Location: Silver Spring, MD
Tweet This
•
Search All PPP Data
American Youth Hostels Inc is a non-profit organization located at 8455 Colesville Rd Ste 1225 in Silver Spring, Maryland that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.
$
PPP Loan Information
Loan #2529888605
Loan Size:
Jobs Retained:
156Loan Approved:
2021-03-15Loan Status:
Ongoing LoanLender:
Loan Source IncorporatedAmerican Youth Hostels Inc in Silver Spring, MD received a Paycheck Protection Loan of $2M through Loan Source Incorporated, which was approved in March, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, American Youth Hostels Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 156 jobs retained, this equals an estimated average yearly compensation of $61,538 per employee1
Reported PPP Proceed Usage:
On the PPP application, American Youth Hostels Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,995
- Utilities: $1
Business Information - American Youth Hostels Inc in Silver Spring, MD
8455 Colesville Rd Ste 1225
Silver Spring, MD 20910
Business Industry:
All Other Traveler Accommodation
NAICS code 721199
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Silver Spring
In the Silver Spring area, 20 businesses in the "All Other Traveler Accommodation" industry received a PPP loan. These local businesses reported an average of 35 employees (compared to this company's 156) and received an average PPP loan of $373,380 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Safiatou Traore
Silver Spring, MD
El Aguila Bar & Grill
Silver Spring, MD
Aliam Enterprises LLC
Silver Spring, MD
Zenahbezu Chekol
Silver Spring, MD
Tracey Crawford
Silver Spring, MD
Cloud Sports Bar LLC
Silver Spring, MD
Fenton Cafe LLC
Silver Spring, MD
TAN Vinh Corporation
Silver Spring, MD
Industry PPP Comparison Statistics
Nationwide, 30,648 businesses in the "All Other Traveler Accommodation" industry received a total of $1.29B 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 6 employees, 96% lower than American Youth Hostels Inc's reported 156 employees, and received an average PPP loan of $42,012, 98% lower than this company's loan of $2M.
American Youth Hostels, Inc
Entity: Non-profit Organization
Industry: All Other Traveler Accommodation
Location: Silver Spring, MD
Tweet This
•
Search All PPP Data
American Youth Hostels, Inc is a non-profit organization located at 8401 Colesville Rd, Suite 600 in Silver Spring, Maryland that received a Coronavirus-related PPP loan from the SBA of $5,111,800.00 in April, 2020.
$
PPP Loan Information
Loan #1135957108
Loan Size:
Jobs Retained:
497Loan Approved:
2020-04-09Loan Status:
Paid in Full or ForgivenLender:
Peapack-Gladstone BankAmerican Youth Hostels, Inc in Silver Spring, MD received a Paycheck Protection Loan of $5.11M through Peapack-Gladstone Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in September, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, American Youth Hostels, Inc's 2019 payroll expenses are estimated to be at least $24.54M.
Based on their reported 497 jobs retained, this equals an estimated average yearly compensation of $49,369 per employee1
Reported PPP Proceed Usage:
On the PPP application, American Youth Hostels, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $5,111,800
Business Information - American Youth Hostels, Inc in Silver Spring, MD
8401 Colesville Rd, Suite 600
Silver Spring, MD 20910
Business Industry:
All Other Traveler Accommodation
NAICS code 721199
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Silver Spring
In the Silver Spring area, 20 businesses in the "All Other Traveler Accommodation" industry received a PPP loan. These local businesses reported an average of 35 employees (compared to this company's 497) and received an average PPP loan of $373,380 (compared to this company's $5.11M).
Similar Nearby Businesses Who Received PPP Funding:
Safiatou Traore
Silver Spring, MD
El Aguila Bar & Grill
Silver Spring, MD
Aliam Enterprises LLC
Silver Spring, MD
Zenahbezu Chekol
Silver Spring, MD
Tracey Crawford
Silver Spring, MD
Cloud Sports Bar LLC
Silver Spring, MD
Fenton Cafe LLC
Silver Spring, MD
TAN Vinh Corporation
Silver Spring, MD
Industry PPP Comparison Statistics
Nationwide, 30,648 businesses in the "All Other Traveler Accommodation" industry received a total of $1.29B 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 6 employees, 99% lower than American Youth Hostels, Inc's reported 497 employees, and received an average PPP loan of $42,012, 99% lower than this company's loan of $5.11M.
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. Estimations for informational purposes only. 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.
Have FederalPay.org's open data tools been valuable? Consider donating!