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PPP Loan Data — HOA Holdings LLC,
Moline, IL
HOA Holdings LLC
Entity: Limited Liability Company (LLC)
Industry: Hotels (except Casino Hotels) and Motels
Location: Moline, IL
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HOA Holdings LLC is a limited liability company (LLC) located at 1501 River Dr in Moline, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.
The company has reported itself as a White male owned business, and employed at least 500 people during the applicable loan loan period.
$
PPP Loan Information
Loan #4916938606
Loan Size:
Jobs Retained:
500Loan Approved:
2021-03-20Loan Status:
Active Un-DisbursedLender:
West BankHOA Holdings LLC in Moline, IL received a Paycheck Protection Loan of $2M through West Bank, which was approved in March, 2021.
While this loan has been approved by the Small Business Administration, the lender has not reported to the SBA that the loan funds were disbursed to the borrower. According to SBA records, a total of $2M in approved PPP funding has not been disbursed. The loan's status was last updated by the SBA in March, 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, HOA Holdings LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $19,200 per employee1
Reported PPP Proceed Usage:
On the PPP application, HOA Holdings LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,996
- Utilities: $1
Business Information - HOA Holdings LLC in Moline, IL
1501 River Dr
Moline, IL 61265
Business Industry:
Hotels (except Casino Hotels) and Motels
NAICS code 721110
Business Owner Demographics
Race: White
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
Similar Companies near Moline
In the Moline area, 15 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 77 employees (compared to this company's 500) and received an average PPP loan of $839,555 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Best Inn Moline Inc
Moline, IL
Moline Promenade Mm, LLC
Moline, IL
Neepa Corporation
Moline, IL
J&J Hospitality LLC
Moline, IL
Neep Coporation
Moline, IL
Frontier Hospitality Group Of Illinois, LLC
Moline, IL
Sahebji Inc
Moline, IL
Amara Hotel Davenport
Moline, IL
Industry PPP Comparison Statistics
Nationwide, 76,144 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13.3B 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 24 employees, 95% lower than HOA Holdings LLC's reported 500 employees, and received an average PPP loan of $174,695, 91% lower than this company's loan of $2M.
HOA Holdings, LLC
Entity: Limited Liability Company (LLC)
Industry: Hotels (except Casino Hotels) and Motels
Location: Moline, IL
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HOA Holdings, LLC is a limited liability company (LLC) located at 1501 River Dr in Moline, Illinois that received a Coronavirus-related PPP loan from the SBA of $9,718,894.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 500 people during the applicable loan loan period.
$
PPP Loan Information
Loan #6786427000
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-07Loan Status:
Ongoing LoanLender:
West BankHOA Holdings, LLC in Moline, IL received a Paycheck Protection Loan of $9.72M through West Bank, which was approved in April, 2020.
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 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, HOA Holdings, LLC's 2019 payroll expenses are estimated to be at least $46.65M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $93,301 per employee1
Reported PPP Proceed Usage:
On the PPP application, HOA Holdings, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $9,718,894
Business Information - HOA Holdings, LLC in Moline, IL
1501 River Dr
Moline, IL 61265
Business Industry:
Hotels (except Casino Hotels) and Motels
NAICS code 721110
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: New Business or 2 years or less
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Moline
In the Moline area, 15 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 77 employees (compared to this company's 500) and received an average PPP loan of $839,555 (compared to this company's $9.72M).
Similar Nearby Businesses Who Received PPP Funding:
Best Inn Moline Inc
Moline, IL
Moline Promenade Mm, LLC
Moline, IL
Neepa Corporation
Moline, IL
J&J Hospitality LLC
Moline, IL
Neep Coporation
Moline, IL
Frontier Hospitality Group Of Illinois, LLC
Moline, IL
Sahebji Inc
Moline, IL
Amara Hotel Davenport
Moline, IL
Industry PPP Comparison Statistics
Nationwide, 76,144 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13.3B 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 24 employees, 95% lower than HOA Holdings, LLC's reported 500 employees, and received an average PPP loan of $174,695, 98% lower than this company's loan of $9.72M.
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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