PPP Loan Data — Ocean House Management , LLC, Westerly, RI
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
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.
Business Information - Ocean House Management , LLC in Westerly, RI
1 Bluff Ave
Westerly, RI 2891
Hotels (except Casino Hotels) and Motels (NAICS code 721110)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional 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).
Similar Nearby Businesses Who Received PPP Funding:
Breezeway Family Resorts, Inc.
Westerly Inns, LLC
Shree Bahuchar Inc.
Atlantic Inn Owners Association
Breezeway Motel Inc
Margin Street Inn LLC
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.
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Footnotes & Information
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