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PPP Loan Data — Midas Hospitality LLC,
Saint Louis, 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:
Jobs Retained:
72Loan Approved:
2021-02-04Loan Status:
Paid in Full or ForgivenLender:
MRV BanksMidas 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's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in September, 2021.
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 MoreUnderstanding 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 MoreBased 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
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
Businesses Using Same Address:
There are 9 other businesses that received a PPP loan registered to the same address as Midas Hospitality LLC.
MBM Lodging LLC
Hotels (except Casino Hotels) and Motels
Legacy St. James LLC
Hotels (except Casino Hotels) and Motels
Midas Worthington LLC
Hotels (except Casino Hotels) and Motels
Midas Cotton Ridge LLC
Hotels (except Casino Hotels) and Motels
Midas Independence LLC
Hotels (except Casino Hotels) and Motels
Poplar Bluff Hotel Mgmt LLC
Hotels (except Casino Hotels) and Motels
Midas Lenexa LLC
Hotels (except Casino Hotels) and Motels
Midas Wichita Old Town LLC
Hotels (except Casino Hotels) and Motels
Midas Milwaukee LLC
Hotels (except Casino Hotels) and Motels
Similar Companies near Saint Louis
In the Saint Louis area, 56 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 41 employees (compared to this company's 72) and received an average PPP loan of $419,099 (compared to this company's $1.41M).
Similar Nearby Businesses Who Received PPP Funding:
Bwwp LLC
Saint Louis, MO
MC Hotels LLC
Saint Louis, MO
Poplar Bluff Hotel Mgmt LLC
Saint Louis, MO
Midas Clemson LLC
Saint Louis, MO
Midas Wentzville Bluffs LLC
Saint Louis, MO
Westport Craig LLC
Saint Louis, MO
Shawn Walker
Saint Louis, MO
Wphi LLC
Saint Louis, MO
Industry PPP Comparison Statistics
Nationwide, 81,976 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13.92B 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, 68% lower than Midas Hospitality LLC's reported 72 employees, and received an average PPP loan of $169,775, 88% lower than this company's loan of $1.41M.
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 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:
Jobs Retained:
500Loan Approved:
2020-04-07Loan Status:
Paid in Full or ForgivenLender:
Simmons BankMidas 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's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in July, 2021.
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 MoreUnderstanding 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 MoreBased 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
Business Information - Midas Hospitality LLC in Saint Louis, MO
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
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Midas Hospitality LLC.
Alper Audi Inc
Engineering Services
Similar Companies near Saint Louis
In the Saint Louis area, 56 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 41 employees (compared to this company's 500) and received an average PPP loan of $419,099 (compared to this company's $5.8M).
Similar Nearby Businesses Who Received PPP Funding:
Bwwp LLC
Saint Louis, MO
MC Hotels LLC
Saint Louis, MO
Poplar Bluff Hotel Mgmt LLC
Saint Louis, MO
Midas Clemson LLC
Saint Louis, MO
Midas Wentzville Bluffs LLC
Saint Louis, MO
Westport Craig LLC
Saint Louis, MO
Shawn Walker
Saint Louis, MO
Wphi LLC
Saint Louis, MO
Industry PPP Comparison Statistics
Nationwide, 81,976 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13.92B 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, 95% lower than Midas Hospitality LLC's reported 500 employees, and received an average PPP loan of $169,775, 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.
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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