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PPP Loan Data — Omega World Travel Inc,
Fairfax, VA
Omega World Travel Inc
Entity: Subchapter S Corporation
Industry: Travel Agencies
Location: Fairfax, VA
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Omega World Travel Inc is a subchapter s corporation located at 3102 Omega Office Park 3102 Omega Office Park in Fairfax, Virginia that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.
$
PPP Loan Information
Loan #5180358501
Loan Size:
Jobs Retained:
130Loan Approved:
2021-02-27Loan Status:
Ongoing LoanLender:
PNC Bank, National AssociationOmega World Travel Inc in Fairfax, VA received a Paycheck Protection Loan of $2M through PNC Bank, National Association, which was approved in February, 2021.
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
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, Omega World Travel Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 130 jobs retained, this equals an estimated average yearly compensation of $73,846 per employee1
Reported PPP Proceed Usage:
On the PPP application, Omega World Travel Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,997
- Utilities: $1
Business Information - Omega World Travel Inc in Fairfax, VA
3102 Omega Office Park 3102 Omega Office Park
Fairfax, VA 22031
Business Industry:
Travel Agencies
NAICS code 561510
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 Omega World Travel Inc.
Travtech Com Inc
Custom Computer Programming Services
Similar Companies near Fairfax
In the Fairfax area, 18 businesses in the "Travel Agencies" industry received a PPP loan. These local businesses reported an average of 41 employees (compared to this company's 130) and received an average PPP loan of $440,340 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Erin White
Fairfax, VA
Sentry Force Security
Fairfax, VA
IGC, Inc
Fairfax, VA
Waynetraveller LLC
Fairfax, VA
Travel Imagineers, LLC
Fairfax, VA
Keytours International Inc
Fairfax, VA
T.e. LLC
Fairfax, VA
Aero Nepal Travels Inc
Fairfax, VA
Industry PPP Comparison Statistics
Nationwide, 20,720 businesses in the "Travel Agencies" industry received a total of $874.79M 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 4 employees, 97% lower than Omega World Travel Inc's reported 130 employees, and received an average PPP loan of $42,220, 98% lower than this company's loan of $2M.
Omega World Travel Inc
Entity: Subchapter S Corporation
Industry: Travel Agencies
Location: Fairfax, VA
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•
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Omega World Travel Inc is a subchapter s corporation located at 3102 Omega Office Park in Fairfax, Virginia that received a Coronavirus-related PPP loan from the SBA of $4,750,000.00 in April, 2020.
$
PPP Loan Information
Loan #1062167203
Loan Size:
Jobs Retained:
435Loan Approved:
2020-04-15Loan Status:
Paid in Full or ForgivenLender:
PNC Bank, National AssociationOmega World Travel Inc in Fairfax, VA received a Paycheck Protection Loan of $4.75M through PNC Bank, National Association, 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, Omega World Travel Inc's 2019 payroll expenses are estimated to be at least $22.8M.
Based on their reported 435 jobs retained, this equals an estimated average yearly compensation of $52,414 per employee1
Reported PPP Proceed Usage:
On the PPP application, Omega World Travel Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,750,000
Business Information - Omega World Travel Inc in Fairfax, VA
3102 Omega Office Park
Fairfax, VA 22031
Business Industry:
Travel Agencies
NAICS code 561510
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
Similar Companies near Fairfax
In the Fairfax area, 18 businesses in the "Travel Agencies" industry received a PPP loan. These local businesses reported an average of 41 employees (compared to this company's 435) and received an average PPP loan of $440,340 (compared to this company's $4.75M).
Similar Nearby Businesses Who Received PPP Funding:
Erin White
Fairfax, VA
Sentry Force Security
Fairfax, VA
IGC, Inc
Fairfax, VA
Waynetraveller LLC
Fairfax, VA
Travel Imagineers, LLC
Fairfax, VA
Keytours International Inc
Fairfax, VA
T.e. LLC
Fairfax, VA
Aero Nepal Travels Inc
Fairfax, VA
Industry PPP Comparison Statistics
Nationwide, 20,720 businesses in the "Travel Agencies" industry received a total of $874.79M 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 4 employees, 99% lower than Omega World Travel Inc's reported 435 employees, and received an average PPP loan of $42,220, 99% lower than this company's loan of $4.75M.
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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