PPP Loan Data — Milwaukee City Center, LLC, Milwaukee, WI
Milwaukee City Center, LLC is a limited liability company (LLC) located at 509 W. Wisconsin Ave. 0.0 in Milwaukee, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $2,765,360.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Milwaukee City Center, LLC in Milwaukee, WI received a Paycheck Protection Loan of $2.77M through JPMorgan Chase Bank, National Association, 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
Understanding Payroll Estimates Based On PPP Amount
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, Milwaukee City Center, LLC's 2019 payroll expenses are estimated to be at least $13.27M.
Based on their reported 367 jobs retained, this equals an estimated average yearly compensation of $36,168 per employee1
Reported PPP Proceed Usage:
On the PPP application, Milwaukee City Center, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,044,942
- Utilities: $553,072
- Health Care: $167,346
Business Information - Milwaukee City Center, LLC in Milwaukee, WI
509 W. Wisconsin Ave. 0.0
Milwaukee, WI 53203
Hotels (except Casino Hotels) and Motels
NAICS code 721110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Milwaukee
In the Milwaukee area, 30 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 86 employees (compared to this company's 367) and received an average PPP loan of $786,139 (compared to this company's $2.77M).
Similar Nearby Businesses Who Received PPP Funding:
First Mkd LLC
CL1 Milwaukee LLC
Chicago Street Holdings LLC
Dubbel Dutch LLC
Hotel Metro Operator LLC
Downtown Ventures LLP
Jswd Commerce LLC
Wisconsin Ave Partners LLC
Industry PPP Comparison Statistics
Nationwide, 81,995 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, 94% lower than Milwaukee City Center, LLC's reported 367 employees, and received an average PPP loan of $169,748, 94% lower than this company's loan of $2.77M.
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Footnotes & Information
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