PPP Loan Data — Lobro Associates, LP DBA Doubletreet Hotel, Philadelphia, PA
Lobro Associates, LP DBA Doubletreet Hotel is a partnership located at 615 Chestnut Street in Philadelphia, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $2,740,200.00 in April, 2020.
$ PPP Loan Information
Jobs Retained:0 Unreported
Lender:CITIZENS BANK, NATIONAL ASSOCIATION
Lobro Associates, LP DBA Doubletreet Hotel received a Paycheck Protection Loan of $2.74M through CITIZENS BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Lobro Associates, LP DBA Doubletreet Hotel's total 2019 payroll expenses were approximately $13.15M in order to qualify for the PPP loan amount received.
Unlike most businesses, Lobro Associates, LP DBA Doubletreet Hotel's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.
Business Information - Lobro Associates, LP DBA Doubletreet Hotel in Philadelphia, PA
615 Chestnut Street
Philadelphia, PA 19106
Hotels (except Casino Hotels) and Motels (NAICS code 721110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: PA-03
Similar Companies near Philadelphia
In the Philadelphia area, 15 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 26 employees (compared to this company's 0) and received an average PPP loan of $453,367 (compared to this company's $2.74M).
Similar Nearby Businesses Who Received PPP Funding:
Shree Sai Siddhi Spruce LLC
Delaware Waterfront Associates
LAM's Realty Corporation
Society Hill Xli Owner, LLC
Independence Square Hotel Partners, LP
1204 Chestnut St LLC
Penns View Inn Inc
Alexander Inn, Inc
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, and received an average PPP loan of $161,149, 94% lower than this company's loan of $2.74M.
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.
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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