PPP Loan Data — JAI Matadi Hospitality Inc, Morris, IL
JAI Matadi Hospitality Inc is a corporation located at 80 Hampton St in Morris, Illinois that received a Coronavirus-related PPP loan from the SBA of $46,300.00 in April, 2020. This business is a Days Inn by Wyndham franchise.
The company has reported itself as a male owned business, and employed at least eleven people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The First National Bank of Carmi
JAI Matadi Hospitality Inc in Morris, IL received a Paycheck Protection Loan of $46,300 through The First National Bank of Carmi, which was approved in April, 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 March, 2021.
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, JAI Matadi Hospitality Inc's 2019 payroll expenses are estimated to be at least $222,240.
Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $20,204 per employee1
Reported PPP Proceed Usage:
On the PPP application, JAI Matadi Hospitality Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $35,651
- Utilities: $3,704
- Mortgage Interest: $3,241
- Health Care: $3,704
Business Information - JAI Matadi Hospitality Inc in Morris, IL
80 Hampton St
Morris, IL 60450
Hotels (except Casino Hotels) and Motels
NAICS code 721110
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Morris
In the Morris area, 9 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 11) and received an average PPP loan of $54,259 (compared to this company's $46,300).
Similar Nearby Businesses Who Received PPP Funding:
SAI Rsk LLC
Gore Road Morris LLC
Jaimatadi Hospitality Inc
Morris Hotel Firm, Inc
Shanti Sagar Corp
Industry PPP Comparison Statistics
Nationwide, 82,605 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13.95B 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, 109% higher than JAI Matadi Hospitality Inc's reported 11 employees, and received an average PPP loan of $168,829, 265% higher than this company's loan of $46,300.
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Footnotes & Information
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