FederalPay.org
PPP Loan Data — Open Trip Inc,
San Francisco, CA
Open Trip Inc
Entity: Corporation
Industry: Scheduled Passenger Air Transportation
Location: San Francisco, CA
Tweet This
•
Search All PPP Data
Open Trip Inc is a corporation located at 5 3rd St Ste 925 in San Francisco, California that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.
$
PPP Loan Information
Loan #4653078300
Loan Size:
Jobs Retained:
300Loan Approved:
2021-01-23Loan Status:
Paid in Full or ForgivenLender:
Western Alliance BankOpen Trip Inc in San Francisco, CA received a Paycheck Protection Loan of $2M through Western Alliance Bank, which was approved in January, 2021.
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 August, 2022.
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, Open Trip Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 300 jobs retained, this equals an estimated average yearly compensation of $32,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Open Trip Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,994
- Utilities: $1
Business Information - Open Trip Inc in San Francisco, CA
5 3rd St Ste 925
San Francisco, CA 94103
Business Industry:
Scheduled Passenger Air Transportation
NAICS code 481111
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 San Francisco
In the San Francisco area, 8 businesses in the "Scheduled Passenger Air Transportation" industry received a PPP loan. These local businesses reported an average of 94 employees (compared to this company's 300) and received an average PPP loan of $803,159 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Johnny Martinez
San Francisco, CA
Kyle Ho
San Francisco, CA
Fetlework Almaw
San Francisco, CA
Jagjit Singh
San Francisco, CA
Industry PPP Comparison Statistics
Nationwide, 1,561 businesses in the "Scheduled Passenger Air Transportation" industry received a total of $171.43M 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 9 employees, 97% lower than Open Trip Inc's reported 300 employees, and received an average PPP loan of $109,822, 95% lower than this company's loan of $2M.
Open Trip, Inc
Entity: Corporation
Industry: Scheduled Passenger Air Transportation
Location: San Francisco, CA
Tweet This
•
Search All PPP Data
Open Trip, Inc is a corporation located at 548 Market St Ste 73298 in San Francisco, California that received a Coronavirus-related PPP loan from the SBA of $4,373,600.00 in April, 2020.
$
PPP Loan Information
Loan #8340807001
Loan Size:
Jobs Retained:
445Loan Approved:
2020-04-08Loan Status:
Paid in Full or ForgivenLender:
Western Alliance BankOpen Trip, Inc in San Francisco, CA received a Paycheck Protection Loan of $4.37M through Western Alliance Bank, 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, Open Trip, Inc's 2019 payroll expenses are estimated to be at least $20.99M.
Based on their reported 445 jobs retained, this equals an estimated average yearly compensation of $47,176 per employee1
Reported PPP Proceed Usage:
On the PPP application, Open Trip, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,538,860
- Utilities: $3,820
- Rent: $30,726
- Debt Interest: $800,194
Business Information - Open Trip, Inc in San Francisco, CA
548 Market St Ste 73298
San Francisco, CA 94104
Business Industry:
Scheduled Passenger Air Transportation
NAICS code 481111
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: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near San Francisco
In the San Francisco area, 7 businesses in the "Scheduled Passenger Air Transportation" industry received a PPP loan. These local businesses reported an average of 107 employees (compared to this company's 445) and received an average PPP loan of $915,570 (compared to this company's $4.37M).
Similar Nearby Businesses Who Received PPP Funding:
Jagjit Singh
San Francisco, CA
Johnny Martinez
San Francisco, CA
Kyle Ho
San Francisco, CA
Industry PPP Comparison Statistics
Nationwide, 1,561 businesses in the "Scheduled Passenger Air Transportation" industry received a total of $171.43M 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 9 employees, 98% lower than Open Trip, Inc's reported 445 employees, and received an average PPP loan of $109,822, 97% lower than this company's loan of $4.37M.
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.
Have FederalPay.org's open data tools been valuable? Consider donating!