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PPP Loan Data — Apple Eight Hospitality Management, Inc.,
Richmond, VA
Apple Eight Hospitality Management, Inc.
Entity: Corporation
Industry: Hotels (except Casino Hotels) and Motels
Location: Richmond, VA
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Apple Eight Hospitality Management, Inc. is a corporation located at 814 E Main St in Richmond, Virginia that received a Coronavirus-related PPP loan from the SBA of $5,750,000.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-10Lender:
KEYBANK NATIONAL ASSOCIATIONApple Eight Hospitality Management, Inc. received a Paycheck Protection Loan of $5.75M through KEYBANK NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Apple Eight Hospitality Management, Inc.'s total 2019 payroll expenses were approximately $27.6M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $55,200 per employee1.
Business Information - Apple Eight Hospitality Management, Inc. in Richmond, VA
814 E Main St
Richmond, VA 23219
Business Industry
Hotels (except Casino Hotels) and Motels (NAICS code 721110)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: VA-04Similar Companies near Richmond
In the Richmond area, 10 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 103 employees (compared to this company's 500) and received an average PPP loan of $990,548 (compared to this company's $5.75M).
Similar Nearby Businesses Who Received PPP Funding:
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Richmond, VA
Hrip Miller & Rhoads Acquisition, LLC
Richmond, VA
MDR Greensboro HI Trs, LLC
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MDR Clemson Trs, LLC
Richmond, VA
Bijoy LLC
Richmond, VA
Blackburn Inn Operator, LLC
Richmond, VA
Omni Center Corporation
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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, 96% lower than Apple Eight Hospitality Management, Inc.'s reported 500 employees, and received an average PPP loan of $161,149, 97% lower than this company's loan of $5.75M.
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.
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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