PPP Loan Data — Pepin Motel LLC, Pepin, WI
Pepin Motel LLC is a limited liability company (LLC) located at 305 Elm Street in Pepin, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of Alma
Pepin Motel LLC in Pepin, WI received a Paycheck Protection Loan of $25,000 through Bank of Alma, which was approved in April, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based 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, Pepin Motel LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Pepin Motel LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $18,750
- Utilities: $2,500
- Mortgage Interest: $3,750
Business Information - Pepin Motel LLC in Pepin, WI
305 Elm Street
Pepin, WI 54759
Hotels (except Casino Hotels) and Motels
NAICS code 721110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Pepin
In the Pepin area, 7 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 5) and received an average PPP loan of $21,012 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Foster Retreat Center, LLC
Pooja Hospitality Inc
Industry PPP Comparison Statistics
Nationwide, 82,605 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13.95B 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 23 employees, 360% higher than Pepin Motel LLC's reported 5 employees, and received an average PPP loan of $168,829, 575% higher than this company's loan of $25,000.
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Footnotes & Information
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