PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Laxmi Republic Hotel LTD, Orlando, FL

ALERT: There are 2 PPP loans for a total of $231,439 in our database for businesses with the name "Laxmi Republic Hotel LTD" in Orlando, FL. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Laxmi Republic Hotel LTD

FRANCHISE

FL

Laxmi Republic Hotel LTD

Entity: Limited Liability Company (LLC)

Industry: Hotels (except Casino Hotels) and Motels

Franchise: SpringHill Suites by Marriott

Location: Orlando, FL

Search All PPP Data

Laxmi Republic Hotel LTD is a limited liability company (LLC) located at 8840 Universal Blvd in Orlando, Florida that received a Coronavirus-related PPP loan from the SBA of $135,439.00 in January, 2021. This business is a SpringHill Suites by Marriott franchise.

$ PPP Loan Information
Loan #9562758300

Loan Size:

$135,439

Jobs Retained:

13

Loan Approved:

2021-01-31

Loan Status:

Ongoing Loan

Lender:

American Lending Center

Laxmi Republic Hotel LTD in Orlando, FL received a Paycheck Protection Loan of $135,439 through American Lending Center, 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 More
Understanding 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 More

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, Laxmi Republic Hotel LTD's 2019 payroll expenses are estimated to be at least $650,107.

Based on their reported 13 jobs retained, this equals an estimated average yearly compensation of $50,008 per employee1

Reported PPP Proceed Usage:

On the PPP application, Laxmi Republic Hotel LTD reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $135,436
  • Utilities: $1

Business Information - Laxmi Republic Hotel LTD in Orlando, FL

Laxmi Republic Hotel LTD
8840 Universal Blvd
Orlando, FL 32819

Business Industry:
Hotels (except Casino Hotels) and Motels
NAICS code 721110

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Orange County, FL — SBA Office 0491 — Congressional District: FL-10

Similar Companies near Orlando

In the Orlando area, 94 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 47 employees (compared to this company's 13) and received an average PPP loan of $397,555 (compared to this company's $135,439).

Industry PPP Comparison Statistics

Nationwide, 82,694 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13.94B 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, 77% higher than Laxmi Republic Hotel LTD's reported 13 employees, and received an average PPP loan of $168,562, 24% higher than this company's loan of $135,439.

SBA PPP loan data, payroll data, and salaries for Laxmi Republic Hotel, LTD

FRANCHISE

FL

Laxmi Republic Hotel, LTD

Entity: Limited Liability Company (LLC)

Industry: Hotels (except Casino Hotels) and Motels

Franchise: SpringHill Suites by Marriott

Location: Orlando, FL

Search All PPP Data

Laxmi Republic Hotel, LTD is a limited liability company (LLC) located at 8840 Universal Boulevard in Orlando, Florida that received a Coronavirus-related PPP loan from the SBA of $96,000.00 in April, 2020. This business is a SpringHill Suites by Marriott franchise.

The company has reported itself as an Asian male owned business, and employed at least 50 people during the applicable loan loan period.

$ PPP Loan Information
Loan #4723017206

Loan Size:

$96,000

Jobs Retained:

50

Loan Approved:

2020-04-27

Loan Status:

Ongoing Loan

Lender:

BankUnited, National Association

Laxmi Republic Hotel, LTD in Orlando, FL received a Paycheck Protection Loan of $96,000 through BankUnited, National Association, 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 More
Understanding 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 More

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, Laxmi Republic Hotel, LTD's 2019 payroll expenses are estimated to be at least $460,800.

Based on their reported 50 jobs retained, this equals an estimated average yearly compensation of $9,216 per employee1

Reported PPP Proceed Usage:

On the PPP application, Laxmi Republic Hotel, LTD reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $96,000

Business Information - Laxmi Republic Hotel, LTD in Orlando, FL

Laxmi Republic Hotel, LTD
8840 Universal Boulevard
Orlando, FL 32819

Business Industry:
Hotels (except Casino Hotels) and Motels
NAICS code 721110

Business Owner Demographics

Race: Asian

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

Orange County, FL — SBA Office 0491 — Congressional District: FL-10

Similar Companies near Orlando

In the Orlando area, 94 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 47 employees (compared to this company's 50) and received an average PPP loan of $397,555 (compared to this company's $96,000).

Industry PPP Comparison Statistics

Nationwide, 82,694 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13.94B 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, 54% lower than Laxmi Republic Hotel, LTD's reported 50 employees, and received an average PPP loan of $168,562, 76% higher than this company's loan of $96,000.

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/laxmi-republic-hotel-ltd-orlando-fl