PPP Loan Data — Hotel California By The Sea LLC, Newport Beach, CA
Hotel California By The Sea LLC
Entity: Limited Liability Company (LLC)
Location: Newport Beach, CATweet This • Search All PPP Data
Hotel California By The Sea LLC is a limited liability company (LLC) located at 2811 Villa Way in Newport Beach, California that received a Coronavirus-related PPP loan from the SBA of $2,305,400.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Republic Bank
Hotel California By The Sea LLC in Newport Beach, CA received a Paycheck Protection Loan of $2.31M through First Republic Bank, which was approved in April, 2020.
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, Hotel California By The Sea LLC's 2019 payroll expenses are estimated to be at least $11.07M.
Based on their reported 274 jobs retained, this equals an estimated average yearly compensation of $40,387 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hotel California By The Sea LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,305,400
Business Information - Hotel California By The Sea LLC in Newport Beach, CA
2811 Villa Way
Newport Beach, CA 92663
Residential Mental Health and Substance Abuse Facilities
NAICS code 623220
Business Owner Demographics
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Newport Beach
In the Newport Beach area, 2 businesses in the "Residential Mental Health and Substance Abuse Facilities" industry received a PPP loan. These local businesses reported an average of 144 employees (compared to this company's 274) and received an average PPP loan of $1,245,150 (compared to this company's $2.31M).
Similar Nearby Businesses Who Received PPP Funding:
Pacific Shores Recovery, LLC
Newport Beach, CA
Industry PPP Comparison Statistics
Nationwide, 3,600 businesses in the "Residential Mental Health and Substance Abuse Facilities" industry received a total of $1.06B 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 36 employees, 87% lower than Hotel California By The Sea LLC's reported 274 employees, and received an average PPP loan of $295,104, 87% lower than this company's loan of $2.31M.
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Footnotes & Information
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