PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — CL1 Philadelphia LLC, Philadelphia, PA

ALERT: There are 2 PPP loans for a total of $5.4M in our database for businesses with the name "CL1 Philadelphia LLC" in Philadelphia, PA. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for CL1 Philadelphia LLC
PA

CL1 Philadelphia LLC

Entity: Limited Liability Company (LLC)

Industry: Hotels (except Casino Hotels) and Motels

Location: Philadelphia, PA

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CL1 Philadelphia LLC is a limited liability company (LLC) located at 201 N 17th St in Philadelphia, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.

$ PPP Loan Information
Loan #4796838409

Loan Size:

$2M

Jobs Retained:

246

Loan Approved:

2021-02-06

Loan Status:

Ongoing Loan

Lender:

FirstBank Puerto Rico

CL1 Philadelphia LLC in Philadelphia, PA received a Paycheck Protection Loan of $2M through FirstBank Puerto Rico, 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 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, CL1 Philadelphia LLC's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 246 jobs retained, this equals an estimated average yearly compensation of $39,024 per employee1

Reported PPP Proceed Usage:

On the PPP application, CL1 Philadelphia LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,998
  • Utilities: $1
Because the loan received by CL1 Philadelphia 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 - CL1 Philadelphia LLC in Philadelphia, PA

CL1 Philadelphia LLC
201 N 17th St
Philadelphia, PA 19103

Business Industry:
Hotels (except Casino Hotels) and Motels
NAICS code 721110

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Philadelphia County, PA — SBA Office 0303 — Congressional District: PA-03

Similar Companies near Philadelphia

In the Philadelphia area, 46 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 73 employees (compared to this company's 246) and received an average PPP loan of $762,931 (compared to this company's $2M).

Industry PPP Comparison Statistics

Nationwide, 76,144 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13.3B 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 24 employees, 90% lower than CL1 Philadelphia LLC's reported 246 employees, and received an average PPP loan of $174,695, 91% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for CL1 Philadelphia LLC
PA

CL1 Philadelphia LLC

Entity: Limited Liability Company (LLC)

Industry: Offices of Other Holding Companies

Location: Philadelphia, PA

Search All PPP Data

CL1 Philadelphia LLC is a limited liability company (LLC) located at 201 N 17th Street in Philadelphia, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $3,400,950.00 in April, 2020.

$ PPP Loan Information
Loan #9356577003

Loan Size:

$3.4M

Jobs Retained:

246

Loan Approved:

2020-04-09

Loan Status:

Ongoing Loan

Lender:

FirstBank Puerto Rico

CL1 Philadelphia LLC in Philadelphia, PA received a Paycheck Protection Loan of $3.4M through FirstBank Puerto Rico, 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 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, CL1 Philadelphia LLC's 2019 payroll expenses are estimated to be at least $16.32M.

Based on their reported 246 jobs retained, this equals an estimated average yearly compensation of $66,360 per employee1

Reported PPP Proceed Usage:

On the PPP application, CL1 Philadelphia LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,150,050
  • Utilities: $266,000
  • Rent: $606,900
  • Debt Interest: $378,000
Because the loan received by CL1 Philadelphia 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 - CL1 Philadelphia LLC in Philadelphia, PA

CL1 Philadelphia LLC
201 N 17th Street
Philadelphia, PA 19103

Business Industry:
Offices of Other Holding Companies
NAICS code 551112

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age:

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Philadelphia County, PA — SBA Office 0303 — Congressional District: PA-03

Similar Companies near Philadelphia

In the Philadelphia area, 9 businesses in the "Offices of Other Holding Companies" industry received a PPP loan. These local businesses reported an average of 61 employees (compared to this company's 246) and received an average PPP loan of $678,535 (compared to this company's $3.4M).

Industry PPP Comparison Statistics

Nationwide, 10,807 businesses in the "Offices of Other Holding Companies" industry received a total of $1.5B 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 15 employees, 94% lower than CL1 Philadelphia LLC's reported 246 employees, and received an average PPP loan of $138,951, 96% lower than this company's loan of $3.4M.

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.

Search FederalPay's Full PPP Loan Database

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/cl1-philadelphia-llc-philadelphia-pa