PPP Loan Data — Maine Course Hospitality Group, Freeport, ME
Maine Course Hospitality Group is a subchapter s corporation located at 15 Main Street, Suite 210 in Freeport, Maine that received a Coronavirus-related PPP loan from the SBA of $2,794,000.00 in April, 2020.
$ PPP Loan Information
Lender:BANGOR SAVINGS BANK
Maine Course Hospitality Group received a Paycheck Protection Loan of $2.79M through BANGOR SAVINGS BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Maine Course Hospitality Group's total 2019 payroll expenses were approximately $13.41M in order to qualify for the PPP loan amount received.
Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $53,645 per employee1.
Business Information - Maine Course Hospitality Group in Freeport, ME
15 Main Street, Suite 210
Freeport, ME 4032
Hotels (except Casino Hotels) and Motels (NAICS code 721110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: ME-01
Similar Companies near Freeport
In the Freeport area, 19 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 33 employees (compared to this company's 250) and received an average PPP loan of $265,705 (compared to this company's $2.79M).
Similar Nearby Businesses Who Received PPP Funding:
Maine Idyll Corporation
Casco Bay Inn, Inc.
Pendleton Point Hotels Waterville, LLC
Pendleton Point Hotels Freeport LLC
SAI Hospitality Maine, LLC
Harraseeket Inn Inc
Local Yokel, LLC
JBB Hospitality I, LLC
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, 92% lower than Maine Course Hospitality Group's reported 250 employees, and received an average PPP loan of $161,149, 94% lower than this company's loan of $2.79M.
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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