PPP Loan Data — Portland Hotel Ownership LLC, Dewitt, NY
Portland Hotel Ownership LLC is a limited liability company (LLC) located at 5786 Widewaters Parkway in Dewitt, New York that received a Coronavirus-related PPP loan from the SBA of $1,625,060.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Manufacturers and Traders Trust Company
Portland Hotel Ownership LLC in Dewitt, NY received a Paycheck Protection Loan of $1.63M through Manufacturers and Traders Trust Company, 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, Portland Hotel Ownership LLC's 2019 payroll expenses are estimated to be at least $7.8M.
Based on their reported 201 jobs retained, this equals an estimated average yearly compensation of $38,807 per employee1
Reported PPP Proceed Usage:
On the PPP application, Portland Hotel Ownership LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,625,060
Business Information - Portland Hotel Ownership LLC in Dewitt, NY
5786 Widewaters Parkway
Dewitt, NY 13214
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: Urban
Similar Companies near Dewitt
In the Dewitt area, 6 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 62 employees (compared to this company's 201) and received an average PPP loan of $502,275 (compared to this company's $1.63M).
Similar Nearby Businesses Who Received PPP Funding:
Widewaters Hotels, LLC
Widewaters Bradenton, LLC
Herndon Hotel Ownership LLC
Rb-Ww Tempe LLC
Ambu-Uma Hotel LLC
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, 89% lower than Portland Hotel Ownership LLC's reported 201 employees, and received an average PPP loan of $168,829, 90% lower than this company's loan of $1.63M.
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Footnotes & Information
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