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PPP Loan Data — Omni Rhode Island, LLC, Providence, RI

SBA PPP loan data, payroll data, and salaries for Omni Rhode Island, LLC
RI

Omni Rhode Island, LLC

Entity: Limited Liability Company (LLC)

Industry: Hotels (except Casino Hotels) and Motels

Location: Providence, RI

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Omni Rhode Island, LLC is a limited liability company (LLC) located at 1 W Exchange St in Providence, Rhode Island that received a Coronavirus-related PPP loan from the SBA of $2,640,300.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.64M

Jobs Retained:

246

Loan Approved:

2020-04-13

Lender:

ORIGIN BANK

Omni Rhode Island, LLC in Providence, RI received a Paycheck Protection Loan of $2.64M through ORIGIN BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Omni Rhode Island, LLC's total 2019 payroll expenses were approximately $12.67M in order to qualify for the PPP loan amount received.

Based on their reported 246 jobs retained, this equals an estimated average yearly compensation of $51,518 per employee1.

Because the loan received by Omni Rhode Island, 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 - Omni Rhode Island, LLC in Providence, RI

Omni Rhode Island, LLC
1 W Exchange St
Providence, RI 02903

Business Industry

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

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: RI-02

Similar Companies near Providence

In the Providence area, 9 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 69 employees (compared to this company's 246) and received an average PPP loan of $722,601 (compared to this company's $2.64M).

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 Omni Rhode Island, LLC's reported 246 employees, and received an average PPP loan of $161,149, 94% lower than this company's loan of $2.64M.

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/omni-rhode-island-llc-providence-ri