PPP Loan Data — Greatwood Lodging Group, LP, Houston, TX
Greatwood Lodging Group, LP is a sole proprietorship located at 5858 Hillcroft St in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $46,200.00 in April, 2020. This business is a Palace Inn franchise.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Greatwood Lodging Group, LP in Houston, TX received a Paycheck Protection Loan of $46,200 through Prosperity 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
Understanding Payroll Estimates Based On PPP Amount
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, Greatwood Lodging Group, LP's 2019 payroll expenses are estimated to be at least $221,760.
Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $20,160 per employee1
Reported PPP Proceed Usage:
On the PPP application, Greatwood Lodging Group, LP reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,200
Business Information - Greatwood Lodging Group, LP in Houston, TX
5858 Hillcroft St
Houston, TX 77036
Hotels (except Casino Hotels) and Motels
NAICS code 721110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Houston
In the Houston area, 29 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 11) and received an average PPP loan of $32,360 (compared to this company's $46,200).
Similar Nearby Businesses Who Received PPP Funding:
South Central Realty Investments Inc
Shree Perbraham Swaroopini Inc
Palace Inn Franchising LLC
Ganesh Chaturthi LLC
225 Pasadena Hospitality LLC
Hillcroft Hospitality LLC
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, 109% higher than Greatwood Lodging Group, LP's reported 11 employees, and received an average PPP loan of $168,829, 265% higher than this company's loan of $46,200.
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Footnotes & Information
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