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PPP Loan Data — Hotel Mulberry Corp, New York, NY

SBA PPP loan data, payroll data, and salaries for Hotel Mulberry Corp
NY

Hotel Mulberry Corp

Entity: Corporation

Industry: Hotels (except Casino Hotels) and Motels

Location: New York, NY

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Hotel Mulberry Corp is a corporation located at 52 Mulberry St in New York, New York that received a Coronavirus-related PPP loan from the SBA of $100,000.00 in May, 2020.

The company has reported itself as a male owned business, and employed at least seventeen people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$100,000

Jobs Retained:

17

Loan Approved:

2020-05-01

Lender:

BANK OF AMERICA, NATIONAL ASSOCIATION

Hotel Mulberry Corp received a Paycheck Protection Loan of $100,000 through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in May, 2020.

Based on standard PPP eligibility rules, Hotel Mulberry Corp's total 2019 payroll expenses were approximately $480,000 in order to qualify for the PPP loan amount received.

Based on their reported 17 jobs retained, this equals an estimated average yearly compensation of $28,235 per employee1.

Business Information - Hotel Mulberry Corp in New York, NY

Hotel Mulberry Corp
52 Mulberry St
New York, NY 10013

Business Industry

Hotels (except Casino Hotels) and Motels (NAICS code 721110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: NY-07

Similar Companies near New York

In the New York area, 34 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 71 employees (compared to this company's 17) and received an average PPP loan of $960,984 (compared to this company's $100,000).

Industry PPP Comparison Statistics

Nationwide, 41,528 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $6,692,184,447.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 21 employees, 24% higher than Hotel Mulberry Corp's reported 17 employees, and received an average PPP loan of $161,149, 61% higher than this company's loan of $100,000.

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.

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Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/hotel-mulberry-corp-new-york-ny