PPP Loan Data — Best American Hospitality Corp, Nashville, TN
Best American Hospitality Corp is a corporation located at 1717 Elm Hill Pike Ste B1 in Nashville, Tennessee that received a Coronavirus-related PPP loan from the SBA of $7,858,865.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least 500 people during the applicable loan loan period.
$ PPP Loan Information
Lender:BANK OF AMERICA, NATIONAL ASSOCIATION
Best American Hospitality Corp in Nashville, TN received a Paycheck Protection Loan of $7.86M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in May, 2020.
Based on standard PPP eligibility rules, Best American Hospitality Corp's total 2019 payroll expenses were approximately $37.72M 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 $75,445 per employee1.
Business Information - Best American Hospitality Corp in Nashville, TN
1717 Elm Hill Pike Ste B1
Nashville, TN 37210
Insurance Agencies and Brokerages (NAICS code 524210)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: TN-05
Similar Companies near Nashville
In the Nashville area, 24 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 30 employees (compared to this company's 500) and received an average PPP loan of $458,627 (compared to this company's $7.86M).
Similar Nearby Businesses Who Received PPP Funding:
Marc Gant DBA State Farm Agency
Marc Gant DBA State Farm Insurance Agency
El Bronco Partners LLC
Premier Holdings, LLC
Mark Mckay DBA Mark O Mckay Insurance
ABC Insurance Group
Industry PPP Comparison Statistics
Nationwide, 90,958 businesses in the "Insurance Agencies and Brokerages" industry received a total of $4,494,836,388.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, 99% lower than Best American Hospitality Corp's reported 500 employees, and received an average PPP loan of $49,417, 99% lower than this company's loan of $7.86M.
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, 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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