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PPP Loan Data — Best American Hospitality Corp,
Nashville, TN
FRANCHISE
TNBest American Hospitality Corp
Entity: Corporation
Industry: Limited-Service Restaurants
Franchise: Church's Chicken
Location: Nashville, TN
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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 $2,000,000.00 in May, 2021. This business is a Church's Chicken franchise.
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PPP Loan Information
Loan #3411449009
Loan Size:
Jobs Retained:
500Loan Approved:
2021-05-18Loan Status:
Ongoing LoanLender:
Bank of America, National AssociationBest American Hospitality Corp in Nashville, TN received a Paycheck Protection Loan of $2M through Bank of America, National Association, which was approved in May, 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, Best American Hospitality Corp's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $19,200 per employee1
Reported PPP Proceed Usage:
On the PPP application, Best American Hospitality Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,996
- Utilities: $1
Business Information - Best American Hospitality Corp in Nashville, TN
1717 Elm Hill Pike Ste B1
Nashville, TN 37210
Business Industry:
Limited-Service Restaurants
NAICS code 722513
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
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Best American Hospitality Corp.
BAH Texas LLC
Limited-Service Restaurants
Similar Companies near Nashville
In the Nashville area, 74 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 500) and received an average PPP loan of $143,887 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
BAH Texas LLC
Nashville, TN
M&M#1 Corporation
Nashville, TN
Subway 16679
Nashville, TN
Hattie B's LLC
Nashville, TN
Grilled Cheeserie Hunters LLC
Nashville, TN
Vui's Kitchen Hunters LLC
Nashville, TN
Bongo Productions LLC
Nashville, TN
Red Bicycle LLC
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Jordan Jacobs Venture Corp
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Industry PPP Comparison Statistics
Nationwide, 136,560 businesses in the "Limited-Service Restaurants" industry received a total of $13.87B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 21 employees, 96% lower than Best American Hospitality Corp's reported 500 employees, and received an average PPP loan of $101,544, 95% lower than this company's loan of $2M.
Best American Hospitality Corp
Entity: Corporation
Industry: Insurance Agencies and Brokerages
Location: Nashville, TN
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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 White male owned business, and employed at least 500 people during the applicable loan loan period.
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PPP Loan Information
Loan #6076427703
Loan Size:
Jobs Retained:
500Loan Approved:
2020-05-01Loan Status:
Paid in Full or ForgivenLender:
Bank of America, National AssociationBest 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.
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 July, 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, Best American Hospitality Corp's 2019 payroll expenses are estimated to be at least $37.72M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $75,445 per employee1
Reported PPP Proceed Usage:
On the PPP application, Best American Hospitality Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $7,858,865
Business Information - Best American Hospitality Corp in Nashville, TN
1717 Elm Hill Pike Ste B1
Nashville, TN 37210
Business Industry:
Insurance Agencies and Brokerages
NAICS code 524210
Business Owner Demographics
Race: White
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: New Business or 2 years or less
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Best American Hospitality Corp.
BAH Texas LLC
Limited-Service Restaurants
Similar Companies near Nashville
In the Nashville area, 42 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 18 employees (compared to this company's 500) and received an average PPP loan of $268,150 (compared to this company's $7.86M).
Similar Nearby Businesses Who Received PPP Funding:
Keith Richardson
Nashville, TN
Advanced Life Insurance Consulting Services LLC
Nashville, TN
APC Insurance Services PC
Nashville, TN
El Bronco Partners LLC
Nashville, TN
Joseph Graves
Nashville, TN
Matthew Adkins
Nashville, TN
Ashley Stewart
Nashville, TN
Brianna Lofton Talley
Nashville, TN
Kenneth Penix
Nashville, TN
Industry PPP Comparison Statistics
Nationwide, 148,603 businesses in the "Insurance Agencies and Brokerages" industry received a total of $5.85B 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 4 employees, 99% lower than Best American Hospitality Corp's reported 500 employees, and received an average PPP loan of $39,368, 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, 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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