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PPP Loan Data — Catania Hospitality Group Inc,
Hyannis, MA
Catania Hospitality Group Inc
Entity: Corporation
Industry: Hotels (except Casino Hotels) and Motels
Location: Hyannis, MA
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Catania Hospitality Group Inc is a corporation located at 141 Falmouth Rd # 0 in Hyannis, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.
The company has reported itself as a White female owned business, and employed at least 307 people during the applicable loan loan period.
$
PPP Loan Information
Loan #4088078503
Loan Size:
Jobs Retained:
307Loan Approved:
2021-02-25Loan Status:
Ongoing LoanLender:
Rockland Trust CompanyCatania Hospitality Group Inc in Hyannis, MA received a Paycheck Protection Loan of $2M through Rockland Trust Company, which was approved in February, 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, Catania Hospitality Group Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 307 jobs retained, this equals an estimated average yearly compensation of $31,270 per employee1
Reported PPP Proceed Usage:
On the PPP application, Catania Hospitality Group Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,994
- Utilities: $1
Business Information - Catania Hospitality Group Inc in Hyannis, MA
141 Falmouth Rd # 0
Hyannis, MA 2601
Business Industry:
Hotels (except Casino Hotels) and Motels
NAICS code 721110
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Hyannis
In the Hyannis area, 30 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 33 employees (compared to this company's 307) and received an average PPP loan of $234,160 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Radisson Bistro Inc
Hyannis, MA
TFG Hyannis Hospitality, LLC
Hyannis, MA
Ridgewood Hotel Associates Inc
Hyannis, MA
Finch Group Hotels And Resorts Inc, The
Hyannis, MA
Hyannis Building And Developing Associates, Inc
Hyannis, MA
Innseason Management Inc
Hyannis, MA
Dilara Hospitality Inc
Hyannis, MA
VP Krupa Hospitality Inc
Hyannis, MA
Distinctive Waterfront Hospitality LLC
Hyannis, MA
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, 93% lower than Catania Hospitality Group Inc's reported 307 employees, and received an average PPP loan of $169,748, 92% lower than this company's loan of $2M.
Catania Hospitality Group, Inc
Entity: Corporation
Industry: Offices of Other Holding Companies
Location: Hyannis, MA
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Catania Hospitality Group, Inc is a corporation located at 141 Falmouth Rd in Hyannis, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $2,845,677.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 432 people during the applicable loan loan period.
$
PPP Loan Information
Loan #3078677109
Loan Size:
Jobs Retained:
432Loan Approved:
2020-04-11Loan Status:
Ongoing LoanLender:
Rockland Trust CompanyCatania Hospitality Group, Inc in Hyannis, MA received a Paycheck Protection Loan of $2.85M through Rockland Trust Company, 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, Catania Hospitality Group, Inc's 2019 payroll expenses are estimated to be at least $13.66M.
Based on their reported 432 jobs retained, this equals an estimated average yearly compensation of $31,619 per employee1
Reported PPP Proceed Usage:
On the PPP application, Catania Hospitality Group, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,845,677
Business Information - Catania Hospitality Group, Inc in Hyannis, MA
141 Falmouth Rd
Hyannis, MA 2601
Business Industry:
Offices of Other Holding Companies
NAICS code 551112
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Businesses Using Same Address:
There are 2 other businesses that received a PPP loan registered to the same address as Catania Hospitality Group, Inc.
NON Profit
Other Individual and Family Services
Moving Forward Incorporated
Educational Support Services
Similar Companies near Hyannis
In the Hyannis area, 3 businesses in the "Offices of Other Holding Companies" industry received a PPP loan. These local businesses reported an average of 146 employees (compared to this company's 432) and received an average PPP loan of $965,584 (compared to this company's $2.85M).
Similar Nearby Businesses Who Received PPP Funding:
Bkkcapecod Inc
Hyannis, MA
Kilwins Hyannis
Hyannis, MA
Industry PPP Comparison Statistics
Nationwide, 12,406 businesses in the "Offices of Other Holding Companies" industry received a total of $1.56B 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 13 employees, 97% lower than Catania Hospitality Group, Inc's reported 432 employees, and received an average PPP loan of $125,465, 96% lower than this company's loan of $2.85M.
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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