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PPP Loan Data — High Hotels LTD,
Lancaster, PA
High Hotels LTD
Entity: Corporation
Industry: All Other Traveler Accommodation
Location: Lancaster, PA
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High Hotels LTD is a corporation located at 1853 William Penn Way Null in Lancaster, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.
$
PPP Loan Information
Loan #6275958610
Loan Size:
Jobs Retained:
235Loan Approved:
2021-03-23Loan Status:
Paid in Full or ForgivenLender:
Fulton Bank, National AssociationHigh Hotels LTD in Lancaster, PA received a Paycheck Protection Loan of $2M through Fulton Bank, National Association, which was approved in March, 2021.
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 November, 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 MoreUnderstanding 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 MoreBased 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, High Hotels LTD's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 235 jobs retained, this equals an estimated average yearly compensation of $40,851 per employee1
Reported PPP Proceed Usage:
On the PPP application, High Hotels LTD reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,995
- Utilities: $1
Business Information - High Hotels LTD in Lancaster, PA
1853 William Penn Way Null
Lancaster, PA 17601
Business Industry:
All Other Traveler Accommodation
NAICS code 721199
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Lancaster
In the Lancaster area, 23 businesses in the "All Other Traveler Accommodation" 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 $226,610 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
China House
Lancaster, PA
Yuzu Asian Cuisine
Lancaster, PA
Stockyard Inn Inc
Lancaster, PA
The Greenfield Restaurant & Bar
Lancaster, PA
Marion Court Room LLC
Lancaster, PA
Jojoz Crazy Pizza LLC
New Holland, PA
Horst Hotels Co
Lancaster, PA
TFB Catering Inc
Lancaster, PA
Beth Grubic
Lancaster, PA
Industry PPP Comparison Statistics
Nationwide, 30,645 businesses in the "All Other Traveler Accommodation" industry received a total of $1.29B 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 6 employees, 97% lower than High Hotels LTD's reported 235 employees, and received an average PPP loan of $42,016, 98% lower than this company's loan of $2M.
High Hotels, LTD
Entity: Corporation
Industry: Hotels (except Casino Hotels) and Motels
Location: Lancaster, PA
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High Hotels, LTD is a corporation located at 1853 William Penn Way in Lancaster, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $3,801,248.00 in June, 2020.
$
PPP Loan Information
Loan #5702768003
Loan Size:
Jobs Retained:
254Loan Approved:
2020-06-29Loan Status:
Paid in Full or ForgivenLender:
Fulton Bank, National AssociationHigh Hotels, LTD in Lancaster, PA received a Paycheck Protection Loan of $3.8M through Fulton Bank, National Association, which was approved in June, 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 July, 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 MoreUnderstanding 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 MoreBased 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, High Hotels, LTD's 2019 payroll expenses are estimated to be at least $18.25M.
Based on their reported 254 jobs retained, this equals an estimated average yearly compensation of $71,835 per employee1
Reported PPP Proceed Usage:
On the PPP application, High Hotels, LTD reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,850,936
- Utilities: $300,000
- Mortgage Interest: $650,312
Business Information - High Hotels, LTD in Lancaster, PA
1853 William Penn Way
Lancaster, PA 17601
Business Industry:
Hotels (except Casino Hotels) and Motels
NAICS code 721110
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There are 6 other businesses that received a PPP loan registered to the same address as High Hotels, LTD.
Jared Miller
All Other Professional, Scientific, and Technical Services
Hellesmeer Gemeinschaft LLC
Offices of Lawyers
John Frick
Office Administrative Services
Heartfelt Premier Care Inc
Home Health Care Services
Heartfelt Premier Care
Nursing Care Facilities (Skilled Nursing Facilities)
Gifted Hands Home & Health Care LLC
All Other Miscellaneous Ambulatory Health Care Services
Similar Companies near Lancaster
In the Lancaster area, 50 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 33 employees (compared to this company's 254) and received an average PPP loan of $300,163 (compared to this company's $3.8M).
Similar Nearby Businesses Who Received PPP Funding:
Novus Hospitality Inc
Lancaster, PA
KVH, LLC
Lancaster, PA
JAY Guruji Inc
Lancaster, PA
Cork Factory Hotel, LLC
Lancaster, PA
Chestnut Street Hotel Incorporated
Lancaster, PA
Lh&H LLC
Lancaster, PA
MAA Laxmi, Inc
Lancaster, PA
Spark Associates Inc
Lancaster, PA
Your Place Country Inns Inc
Lancaster, PA
Industry PPP Comparison Statistics
Nationwide, 81,979 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13.92B 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, 91% lower than High Hotels, LTD's reported 254 employees, and received an average PPP loan of $169,801, 96% lower than this company's loan of $3.8M.
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.
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.
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