PPP Loan Data — Newage Rancho Mirage, LLC, Rancho Mirage, CA
Newage Rancho Mirage, LLC is a limited liability company (LLC) located at 68900 Frank Sinatra Dr in Rancho Mirage, California that received a Coronavirus-related PPP loan from the SBA of $3,675,000.00 in April, 2020.
The company has reported itself as an Asian male owned business, and employed at least 389 people during the applicable loan loan period.
$ PPP Loan Information
Lender:EAST WEST BANK
Newage Rancho Mirage, LLC in Rancho Mirage, CA received a Paycheck Protection Loan of $3.68M through EAST WEST BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Newage Rancho Mirage, LLC's total 2019 payroll expenses were approximately $17.64M in order to qualify for the PPP loan amount received.
Based on their reported 389 jobs retained, this equals an estimated average yearly compensation of $45,347 per employee1.
Business Information - Newage Rancho Mirage, LLC in Rancho Mirage, CA
68900 Frank Sinatra Dr
Rancho Mirage, CA 92270
Hotels (except Casino Hotels) and Motels (NAICS code 721110)
Business Owner Demographics
Race / Ethnicity: ASIAN
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: CA-36
Similar Companies near Rancho Mirage
In the Rancho Mirage area, 3 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 157 employees (compared to this company's 389) and received an average PPP loan of $1,295,129 (compared to this company's $3.68M).
Similar Nearby Businesses Who Received PPP Funding:
Rancho Mirage RV & Mobile Village, LLC
Rancho Mirage, CA
Treasure Mountain Holdings, LLC
Rancho Mirage, CA
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, 95% lower than Newage Rancho Mirage, LLC's reported 389 employees, and received an average PPP loan of $161,149, 96% lower than this company's loan of $3.68M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!