PPP Loan Data — CP Crestview LLC, Newport, KY
CP Crestview LLC is a limited liability company (LLC) located at 740 Centre View in Newport, Kentucky that received a Coronavirus-related PPP loan from the SBA of $3,817,000.00 in April, 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:THE HUNTINGTON NATIONAL BANK
CP Crestview LLC in Newport, KY received a Paycheck Protection Loan of $3.82M through THE HUNTINGTON NATIONAL BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, CP Crestview LLC's total 2019 payroll expenses were approximately $18.32M 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 $36,643 per employee1.
Business Information - CP Crestview LLC in Newport, KY
740 Centre View
Newport, KY 41071
Hotels (except Casino Hotels) and Motels (NAICS code 721110)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: UnreportedCongressional District: KY-04
Similar Companies near Newport
In the Newport area, 2 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 256 employees (compared to this company's 500) and received an average PPP loan of $1,965,806 (compared to this company's $3.82M).
Similar Nearby Businesses Who Received PPP Funding:
NKY Hospitality, LLC
Industry PPP Comparison Statistics
Nationwide, 41,528 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $6,692,184,447.00 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 21 employees, 96% lower than CP Crestview LLC's reported 500 employees, and received an average PPP loan of $161,149, 96% lower than this company's loan of $3.82M.
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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