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PPP Loan Data — Bay Point Trs, LLC, Panama City Beach, FL

SBA PPP loan data, payroll data, and salaries for Bay Point Trs, LLC

FRANCHISE

FL

Bay Point Trs, LLC

Entity: Limited Liability Company (LLC)

Industry: Hotels (except Casino Hotels) and Motels

Franchise: Sheraton

Location: Panama City Beach, FL

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Bay Point Trs, LLC is a limited liability company (LLC) located at 4114 Jan Cooley Dr. 0.0 in Panama City Beach, Florida that received a Coronavirus-related PPP loan from the SBA of $3,194,310.00 in April, 2020. This business is a Sheraton franchise.

$ PPP Loan Information
Loan #4842947108

Loan Size:

$3.19M

Jobs Retained:

171

Loan Approved:

2020-04-13

Loan Status:

Paid in Full or Forgiven

Lender:

JPMorgan Chase Bank, National Association

Bay Point Trs, LLC in Panama City Beach, FL received a Paycheck Protection Loan of $3.19M through JPMorgan Chase Bank, National Association, 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 More
Understanding 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 More

Based 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, Bay Point Trs, LLC's 2019 payroll expenses are estimated to be at least $15.33M.

Based on their reported 171 jobs retained, this equals an estimated average yearly compensation of $89,665 per employee1

Reported PPP Proceed Usage:

On the PPP application, Bay Point Trs, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,395,732
  • Utilities: $80,000
  • Mortgage Interest: $400,424
  • Rent: $4,000
  • Debt Interest: $314,154
Because the loan received by Bay Point Trs, LLC 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 - Bay Point Trs, LLC in Panama City Beach, FL

Bay Point Trs, LLC
4114 Jan Cooley Dr. 0.0
Panama City Beach, FL 32408

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

Bay County, FL — SBA Office 0491 — Congressional District: FL-02

Similar Companies near Panama City Beach

In the Panama City Beach area, 41 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 31 employees (compared to this company's 171) and received an average PPP loan of $283,846 (compared to this company's $3.19M).

Industry PPP Comparison Statistics

Nationwide, 81,995 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13.92B 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 23 employees, 87% lower than Bay Point Trs, LLC's reported 171 employees, and received an average PPP loan of $169,748, 95% lower than this company's loan of $3.19M.

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. 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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Source: www.federalpay.org/paycheck-protection-program/bay-point-trs-llc-panama-city-beach-fl