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PPP Loan Data — Aparium Hotel Group LLC,
Chicago, IL
Aparium Hotel Group LLC
Entity: Limited Liability Company (LLC)
Industry: Hotels (except Casino Hotels) and Motels
Location: Chicago, IL
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Aparium Hotel Group LLC is a limited liability company (LLC) located at 833 W Washington Blvd Fl 2 in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.
$
PPP Loan Information
Loan #5807128507
Loan Size:
Jobs Retained:
223Loan Approved:
2021-03-01Loan Status:
Active Un-DisbursedLender:
Village Bank and Trust, National AssociationAparium Hotel Group LLC in Chicago, IL received a Paycheck Protection Loan of $2M through Village Bank and Trust, National Association, which was approved in March, 2021.
While this loan has been approved by the Small Business Administration, the lender has not reported to the SBA that the loan funds were disbursed to the borrower. According to SBA records, a total of $2M in approved PPP funding has not been disbursed. The loan's status was last updated by the SBA in March, 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, Aparium Hotel Group LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 223 jobs retained, this equals an estimated average yearly compensation of $43,049 per employee1
Reported PPP Proceed Usage:
On the PPP application, Aparium Hotel Group LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,996
- Utilities: $1
Business Information - Aparium Hotel Group LLC in Chicago, IL
833 W Washington Blvd Fl 2
Chicago, IL 60607
Business Industry:
Hotels (except Casino Hotels) and Motels
NAICS code 721110
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: N
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 28 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 87 employees (compared to this company's 223) and received an average PPP loan of $910,704 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Integrated 32 W Randolph LLC
Chicago, IL
20 E. Delaware Investors, LLC
Chicago, IL
Integrated Clark Monroe LLC
Chicago, IL
WCP Needham Cabot, LLC
Chicago, IL
Soho House Chicago, LLC
Chicago, IL
WCP Computer Drive, LLC
Chicago, IL
Westloop Equities, LLC
Chicago, IL
Integrated Motor Club LLC
Chicago, IL
Wacker Brothers Hospitality
Chicago, IL
Industry PPP Comparison Statistics
Nationwide, 76,920 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13.34B 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 24 employees, 89% lower than Aparium Hotel Group LLC's reported 223 employees, and received an average PPP loan of $173,427, 91% lower than this company's loan of $2M.
Aparium Hotel Group, LLC
Entity: Limited Liability Company (LLC)
Industry: Hotels (except Casino Hotels) and Motels
Location: Chicago, IL
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Aparium Hotel Group, LLC is a limited liability company (LLC) located at Washington Blvd in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $3,840,897.00 in April, 2020.
$
PPP Loan Information
Loan #9471527103
Loan Size:
Jobs Retained:
223Loan Approved:
2020-04-15Loan Status:
Ongoing LoanLender:
Village Bank and Trust, National AssociationAparium Hotel Group, LLC in Chicago, IL received a Paycheck Protection Loan of $3.84M through Village Bank and Trust, National Association, which was approved in April, 2020.
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, Aparium Hotel Group, LLC's 2019 payroll expenses are estimated to be at least $18.44M.
Based on their reported 223 jobs retained, this equals an estimated average yearly compensation of $82,674 per employee1
Reported PPP Proceed Usage:
On the PPP application, Aparium Hotel Group, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,880,650
- Utilities: $240,062
- Rent: $240,062
- Health Care: $240,061
- Debt Interest: $240,062
Business Information - Aparium Hotel Group, LLC in Chicago, IL
Washington Blvd
Chicago, IL 60607
Business Industry:
Hotels (except Casino Hotels) and Motels
NAICS code 721110
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: N
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 28 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 87 employees (compared to this company's 223) and received an average PPP loan of $910,704 (compared to this company's $3.84M).
Similar Nearby Businesses Who Received PPP Funding:
Integrated 32 W Randolph LLC
Chicago, IL
20 E. Delaware Investors, LLC
Chicago, IL
Integrated Clark Monroe LLC
Chicago, IL
WCP Needham Cabot, LLC
Chicago, IL
Soho House Chicago, LLC
Chicago, IL
WCP Computer Drive, LLC
Chicago, IL
Westloop Equities, LLC
Chicago, IL
Integrated Motor Club LLC
Chicago, IL
Wacker Brothers Hospitality
Chicago, IL
Industry PPP Comparison Statistics
Nationwide, 76,920 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13.34B 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 24 employees, 89% lower than Aparium Hotel Group, LLC's reported 223 employees, and received an average PPP loan of $173,427, 95% lower than this company's loan of $3.84M.
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.
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