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PPP Loan Data — L'enfant DC Hotel LLC, Washington, DC

SBA PPP loan data, payroll data, and salaries for L'enfant DC Hotel LLC
DC

L'enfant DC Hotel LLC

Entity: Limited Liability Company (LLC)

Industry: Lessors of Nonresidential Buildings (except Miniwarehouses)

Location: Washington, DC

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L'enfant DC Hotel LLC is a limited liability company (LLC) located at 480 L'enfant Plaza Sw in Washington, District of Columbia that received a Coronavirus-related PPP loan from the SBA of $2,164,644.00 in May, 2020.

$ PPP Loan Information
Loan #4151207709

Loan Size:

$2.16M

Jobs Retained:

171

Loan Approved:

2020-05-01

Loan Status:

Ongoing Loan

Lender:

Wells Fargo Bank, National Association

L'enfant DC Hotel LLC in Washington, DC received a Paycheck Protection Loan of $2.16M through Wells Fargo Bank, 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 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, L'enfant DC Hotel LLC's 2019 payroll expenses are estimated to be at least $10.39M.

Based on their reported 171 jobs retained, this equals an estimated average yearly compensation of $60,762 per employee1

Reported PPP Proceed Usage:

On the PPP application, L'enfant DC Hotel LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,164,644
Because the loan received by L'enfant DC Hotel LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - L'enfant DC Hotel LLC in Washington, DC

L'enfant DC Hotel LLC
480 L'enfant Plaza Sw
Washington, DC 20024

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

District Of Columbia County, DC — SBA Office 0353 — Congressional District: DC-

Industry PPP Comparison Statistics

Nationwide, 19,255 businesses in the "Lessors of Nonresidential Buildings (except Miniwarehouses)" industry received a total of $1.72B 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 10 employees, 94% lower than L'enfant DC Hotel LLC's reported 171 employees, and received an average PPP loan of $89,367, 96% lower than this company's loan of $2.16M.

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. 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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Source: www.federalpay.org/paycheck-protection-program/lenfant-dc-hotel-llc-washington-dc