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

PPP Loan Data — Gold Town LLC, Bellingham, WA

ALERT: There are 2 PPP loans for a total of $162,081 in our database for businesses with the name "Gold Town LLC" in Bellingham, WA. 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 Gold Town LLC

FRANCHISE

WA

Gold Town LLC

Entity: Limited Liability Company (LLC)

Industry: Hotels (except Casino Hotels) and Motels

Franchise: Quality Inn/Quality Inn & Suites/Quality Suites/Quality Hotel

Location: Bellingham, WA

Search All PPP Data

Gold Town LLC is a limited liability company (LLC) located at 100 E Kellogg Rd in Bellingham, Washington that received a Coronavirus-related PPP loan from the SBA of $97,281.00 in January, 2021. This business is a Quality Inn/Quality Inn & Suites/Quality Suites/Quality Hotel franchise.

The company has reported itself as an Asian male owned business, and employed at least fourteen people during the applicable loan loan period.

$ PPP Loan Information
Loan #5611798300

Loan Size:

$97,281

Jobs Retained:

14

Loan Approved:

2021-01-25

Loan Status:

Ongoing Loan

Lender:

Open Bank

Gold Town LLC in Bellingham, WA received a Paycheck Protection Loan of $97,281 through Open Bank, which was approved in January, 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, Gold Town LLC's 2019 payroll expenses are estimated to be at least $466,949.

Based on their reported 14 jobs retained, this equals an estimated average yearly compensation of $33,354 per employee1

Reported PPP Proceed Usage:

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

  • Payroll: $97,279
  • Utilities: $1

Business Information - Gold Town LLC in Bellingham, WA

Gold Town LLC
100 E Kellogg Rd
Bellingham, WA 98226

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

Business Owner Demographics

Race: Asian

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: N

HUBZone: N

Rural / Urban: Urban

Whatcom County, WA — SBA Office 1013 — Congressional District: WA-02

Similar Companies near Bellingham

In the Bellingham area, 29 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 55 employees (compared to this company's 14) and received an average PPP loan of $410,163 (compared to this company's $97,281).

Industry PPP Comparison Statistics

Nationwide, 82,605 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13.95B 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, 64% higher than Gold Town LLC's reported 14 employees, and received an average PPP loan of $168,829, 74% higher than this company's loan of $97,281.

SBA PPP loan data, payroll data, and salaries for Gold Town LLC

FRANCHISE

WA

Gold Town LLC

Entity: Limited Liability Company (LLC)

Industry: Unclassified Establishments

Franchise: Quality Inn/Quality Inn & Suites/Quality Suites/Quality Hotel

Location: Bellingham, WA

Search All PPP Data

Gold Town LLC is a limited liability company (LLC) located at 100 E Kellogg Rd in Bellingham, Washington that received a Coronavirus-related PPP loan from the SBA of $64,800.00 in April, 2020. This business is a Quality Inn/Quality Inn & Suites/Quality Suites/Quality Hotel franchise.

The company has reported itself as an Asian male owned business, and employed at least fourteen people during the applicable loan loan period.

$ PPP Loan Information
Loan #7610517004

Loan Size:

$64,800

Jobs Retained:

14

Loan Approved:

2020-04-07

Loan Status:

Paid in Full or Forgiven

Lender:

Open Bank

Gold Town LLC in Bellingham, WA received a Paycheck Protection Loan of $64,800 through Open Bank, which was approved in April, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in April, 2021.

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, Gold Town LLC's 2019 payroll expenses are estimated to be at least $311,040.

Based on their reported 14 jobs retained, this equals an estimated average yearly compensation of $22,217 per employee1

Reported PPP Proceed Usage:

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

  • Payroll: $48,600
  • Utilities: $16,200

Business Information - Gold Town LLC in Bellingham, WA

Gold Town LLC
100 E Kellogg Rd
Bellingham, WA 98226

Business Industry:
Unclassified Establishments
NAICS code 999990

Business Owner Demographics

Race: Asian

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: N

HUBZone: N

Rural / Urban: Urban

Whatcom County, WA — SBA Office 1013 — Congressional District: WA-02

Similar Companies near Bellingham

In the Bellingham area, 30 businesses in the "Unclassified Establishments" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 14) and received an average PPP loan of $30,081 (compared to this company's $64,800).

Industry PPP Comparison Statistics

Nationwide, 85,647 businesses in the "Unclassified Establishments" industry received a total of $3.67B 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 10 employees, 29% lower than Gold Town LLC's reported 14 employees, and received an average PPP loan of $42,878, 34% lower than this company's loan of $64,800.

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.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/gold-town-llc-bellingham-wa