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PPP Loan Data — Hotel Mulberry Corp,
New York, 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 $140,000.00 in January, 2021.
The company has reported itself as a male owned business, and employed at least eighteen people during the applicable loan loan period.
$
PPP Loan Information
Loan #3032538310
Loan Size:
Jobs Retained:
18Loan Approved:
2021-01-21Loan Status:
Ongoing LoanLender:
Bank of America, National AssociationHotel Mulberry Corp in New York, NY received a Paycheck Protection Loan of $140,000 through Bank of America, National Association, which was approved in January, 2021.
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, Hotel Mulberry Corp's 2019 payroll expenses are estimated to be at least $672,000.
Based on their reported 18 jobs retained, this equals an estimated average yearly compensation of $37,333 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hotel Mulberry Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $139,997
- Utilities: $1
Business Information - Hotel Mulberry Corp in New York, NY
52 Mulberry St
New York, NY 10013
Business Industry:
Hotels (except Casino Hotels) and Motels
NAICS code 721110
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near New York
In the New York area, 67 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 60 employees (compared to this company's 18) and received an average PPP loan of $779,137 (compared to this company's $140,000).
Similar Nearby Businesses Who Received PPP Funding:
The Bowery House LLC
New York, NY
Nobleden NYC Corp
New York, NY
Solita Soho Hotel LLC
New York, NY
GC Shl, LLC
New York, NY
Plan DO See America, Inc
New York, NY
CWC Inc
New York, NY
Cromwell Soho Operating LLC
New York, NY
Warm NY LLC
New York, NY
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, 33% higher than Hotel Mulberry Corp's reported 18 employees, and received an average PPP loan of $174,695, 25% higher than this company's loan of $140,000.
Hotel Mulberry Corp
Entity: Corporation
Industry: Hotels (except Casino Hotels) and Motels
Location: New York, NY
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•
Search All PPP Data
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 #6437297708
Loan Size:
Jobs Retained:
17Loan Approved:
2020-05-01Loan Status:
Ongoing LoanLender:
Bank of America, National AssociationHotel Mulberry Corp in New York, NY received a Paycheck Protection Loan of $100,000 through Bank of America, National Association, which was approved in May, 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, Hotel Mulberry Corp's 2019 payroll expenses are estimated to be at least $480,000.
Based on their reported 17 jobs retained, this equals an estimated average yearly compensation of $28,235 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hotel Mulberry Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $100,000
Business Information - Hotel Mulberry Corp in New York, NY
52 Mulberry St
New York, NY 10013
Business Industry:
Hotels (except Casino Hotels) and Motels
NAICS code 721110
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
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 New York
In the New York area, 67 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 60 employees (compared to this company's 17) and received an average PPP loan of $779,137 (compared to this company's $100,000).
Similar Nearby Businesses Who Received PPP Funding:
The Bowery House LLC
New York, NY
Nobleden NYC Corp
New York, NY
Solita Soho Hotel LLC
New York, NY
GC Shl, LLC
New York, NY
Plan DO See America, Inc
New York, NY
CWC Inc
New York, NY
Cromwell Soho Operating LLC
New York, NY
Warm NY LLC
New York, NY
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, 41% higher than Hotel Mulberry Corp's reported 17 employees, and received an average PPP loan of $174,695, 75% 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.
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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