PPP Loan Data — Gasparilla Inn Inc, Boca Grande, FL
Gasparilla Inn Inc is a corporation located at 500 Palm Ave in Boca Grande, Florida that received a Coronavirus-related PPP loan from the SBA of $3,147,340.00 in April, 2020.
$ PPP Loan Information
Lender:BANK OF AMERICA, NATIONAL ASSOCIATION
Gasparilla Inn Inc in Boca Grande, FL received a Paycheck Protection Loan of $3.15M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Gasparilla Inn Inc's total 2019 payroll expenses were approximately $15.11M in order to qualify for the PPP loan amount received.
Based on their reported 420 jobs retained, this equals an estimated average yearly compensation of $35,970 per employee1.
Business Information - Gasparilla Inn Inc in Boca Grande, FL
500 Palm Ave
Boca Grande, FL 33921
Hotels (except Casino Hotels) and Motels (NAICS code 721110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: FL-19
Similar Companies near Boca Grande
In the Boca Grande area, 3 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 204 employees (compared to this company's 420) and received an average PPP loan of $1,513,200 (compared to this company's $3.15M).
Similar Nearby Businesses Who Received PPP Funding:
Marker 60 LLC
The Boca Grande Club Inc.
Boca Grande, FL
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, 95% lower than Gasparilla Inn Inc's reported 420 employees, and received an average PPP loan of $161,149, 95% lower than this company's loan of $3.15M.
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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