PPP Loan Data — Henderson Beach Resort Hotel, LLC, Destin, FL
Henderson Beach Resort Hotel, LLC is a limited liability company (LLC) located at 200 Henderson Resort Way in Destin, Florida that received a Coronavirus-related PPP loan from the SBA of $1,833,128.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Horizon Bank
Henderson Beach Resort Hotel, LLC in Destin, FL received a Paycheck Protection Loan of $1.83M through First Horizon 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 May, 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, Henderson Beach Resort Hotel, LLC's 2019 payroll expenses are estimated to be at least $8.8M.
Based on their reported 235 jobs retained, this equals an estimated average yearly compensation of $37,443 per employee1
Reported PPP Proceed Usage:
On the PPP application, Henderson Beach Resort Hotel, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,645,000
- Utilities: $10,378
- Rent: $28,200
- Health Care: $123,850
- Debt Interest: $25,700
Business Information - Henderson Beach Resort Hotel, LLC in Destin, FL
200 Henderson Resort Way
Destin, FL 32541
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: N
Rural / Urban: Urban
Similar Companies near Destin
In the Destin area, 38 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 30 employees (compared to this company's 235) and received an average PPP loan of $190,093 (compared to this company's $1.83M).
Similar Nearby Businesses Who Received PPP Funding:
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Naperville Hotel Owners LLC
Columbus GA Hotel Partners I LP
Pearland Hotel Partners I LLC
East Peoria Hotel Partners LLC
Sea Oats Motel, 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, 90% lower than Henderson Beach Resort Hotel, LLC's reported 235 employees, and received an average PPP loan of $168,829, 91% lower than this company's loan of $1.83M.
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Footnotes & Information
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