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

PPP Loan Data — Midas Hospitality LLC, Saint Louis, MO

ALERT: There are 2 PPP loans for a total of $7.21M in our database for businesses with the name "Midas Hospitality LLC" in Saint Louis, MO. 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 Midas Hospitality LLC
MO

Midas Hospitality LLC

Entity: Limited Liability Company (LLC)

Industry: Hotels (except Casino Hotels) and Motels

Location: Saint Louis, MO

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Midas Hospitality LLC is a limited liability company (LLC) located at 1804 Borman Circle Dr in Saint Louis, Missouri that received a Coronavirus-related PPP loan from the SBA of $1,412,583.00 in February, 2021.

$ PPP Loan Information Loan #3142128404

Loan Size:

$1.41M

Jobs Retained:

72

Loan Approved:

2021-02-04

Loan Status:

Ongoing Loan

Lender:

MRV Banks

Midas Hospitality LLC in Saint Louis, MO received a Paycheck Protection Loan of $1.41M through MRV Banks, which was approved in February, 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, Midas Hospitality LLC's 2019 payroll expenses are estimated to be at least $6.78M.

Based on their reported 72 jobs retained, this equals an estimated average yearly compensation of $94,172 per employee1

Reported PPP Proceed Usage:

On the PPP application, Midas Hospitality LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,412,580
  • Utilities: $1

Business Information - Midas Hospitality LLC in Saint Louis, MO

Midas Hospitality LLC
1804 Borman Circle Dr
Saint Louis, MO 63146

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

Saint Louis County, MO — SBA Office 0768 — Congressional District: MO-02

Similar Companies near Saint Louis

In the Saint Louis area, 52 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 44 employees (compared to this company's 72) and received an average PPP loan of $449,414 (compared to this company's $1.41M).

Industry PPP Comparison Statistics

Nationwide, 76,920 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13,340,025,513.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 24 employees, 67% lower than Midas Hospitality LLC's reported 72 employees, and received an average PPP loan of $173,427, 88% lower than this company's loan of $1.41M.

SBA PPP loan data, payroll data, and salaries for Midas Hospitality LLC
MO

Midas Hospitality LLC

Entity: Limited Liability Company (LLC)

Industry: Hotels (except Casino Hotels) and Motels

Location: Saint Louis, MO

Search All PPP Data

Midas Hospitality LLC is a limited liability company (LLC) located at 1804 Borman Circle Drive in Saint Louis, Missouri that received a Coronavirus-related PPP loan from the SBA of $5,800,900.00 in April, 2020.

$ PPP Loan Information Loan #7542027007

Loan Size:

$5.8M

Jobs Retained:

500

Loan Approved:

2020-04-07

Loan Status:

Ongoing Loan

Lender:

Simmons Bank

Midas Hospitality LLC in Saint Louis, MO received a Paycheck Protection Loan of $5.8M through Simmons Bank, 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, Midas Hospitality LLC's 2019 payroll expenses are estimated to be at least $27.84M.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $55,689 per employee1

Reported PPP Proceed Usage:

On the PPP application, Midas Hospitality LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $5,800,900
Because the loan received by Midas Hospitality 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 - Midas Hospitality LLC in Saint Louis, MO

Midas Hospitality LLC
1804 Borman Circle Drive
Saint Louis, MO 63146

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

Saint Louis County, MO — SBA Office 0768 — Congressional District: MO-02

Similar Companies near Saint Louis

In the Saint Louis area, 52 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 44 employees (compared to this company's 500) and received an average PPP loan of $449,414 (compared to this company's $5.8M).

Industry PPP Comparison Statistics

Nationwide, 76,920 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13,340,025,513.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 24 employees, 95% lower than Midas Hospitality LLC's reported 500 employees, and received an average PPP loan of $173,427, 97% lower than this company's loan of $5.8M.

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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Source: www.federalpay.org/paycheck-protection-program/midas-hospitality-llc-saint-louis-mo