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PPP Loan Data — Ocean House Management , LLC, Westerly, RI

SBA PPP loan data, payroll data, and salaries for Ocean House Management , LLC
RI

Ocean House Management , LLC

Entity: Limited Liability Company (LLC)

Industry: Hotels (except Casino Hotels) and Motels

Location: Westerly, RI

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Ocean House Management , LLC is a limited liability company (LLC) located at 1 Bluff Ave in Westerly, Rhode Island that received a Coronavirus-related PPP loan from the SBA of $2,572,332.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 230 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$2.57M

Jobs Retained:

230

Loan Approved:

2020-04-08

Lender:

THE WASHINGTON TRUST COMPANY OF WESTERLY

Ocean House Management , LLC in Westerly, RI received a Paycheck Protection Loan of $2.57M through THE WASHINGTON TRUST COMPANY OF WESTERLY, which was approved in April, 2020.

Based on standard PPP eligibility rules, Ocean House Management , LLC's total 2019 payroll expenses were approximately $12.35M in order to qualify for the PPP loan amount received.

Based on their reported 230 jobs retained, this equals an estimated average yearly compensation of $53,683 per employee1.

Because the loan received by Ocean House Management , 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 - Ocean House Management , LLC in Westerly, RI

Ocean House Management , LLC
1 Bluff Ave
Westerly, RI 2891

Business Industry

Hotels (except Casino Hotels) and Motels (NAICS code 721110)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: RI-02

Similar Companies near Westerly

In the Westerly area, 8 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 230) and received an average PPP loan of $379,736 (compared to this company's $2.57M).

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, 91% lower than Ocean House Management , LLC's reported 230 employees, and received an average PPP loan of $161,149, 94% lower than this company's loan of $2.57M.

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, and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/ocean-house-management-llc-westerly-ri