Fortney Hospitality Group, Inc. in La Crosse, WI - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — Fortney Hospitality Group, Inc., La Crosse, WI

Fortney Hospitality Group, Inc.

Entity: Corporation

Industry: Offices of Other Holding Companies

Location: La Crosse, WI

Fortney Hospitality Group, Inc. is a corporation located at 308 3rd St South in La Crosse, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $3,942,600.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.94M

Jobs Retained:

500

Loan Approved:

2020-04-05

Lender:

ALTRA FCU

Fortney Hospitality Group, Inc. received a Paycheck Protection Loan of $3.94M through ALTRA FCU, which was approved in April, 2020.

Based on standard PPP eligibility rules, Fortney Hospitality Group, Inc.'s total 2019 payroll expenses were approximately $18.92M 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 $37,849 per employee¹.

Because the loan received by Fortney Hospitality Group, Inc. 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 - Fortney Hospitality Group, Inc. in La Crosse, WI

Fortney Hospitality Group, Inc.
308 3rd St South
La Crosse, WI 54601

Business Industry

Offices of Other Holding Companies (NAICS code 551112)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: WI-03

Industry PPP Comparison Statistics

Nationwide, 7,606 businesses in the "Offices of Other Holding Companies" industry received a total of $1,222,968,235.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 14 employees, 97% lower than Fortney Hospitality Group, Inc.'s reported 500 employees, and received an average PPP loan of $160,790, 96% lower than this company's loan of $3.94M.

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.

Search FederalPay's Full PPP Loan Database

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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