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PPP Loan Data — Prospect Hotel Group, Fort Worth, TX

SBA PPP loan data, payroll data, and salaries for Prospect Hotel Group
TX

Prospect Hotel Group

Entity: Corporation

Industry: Hotels (except Casino Hotels) and Motels

Location: Fort Worth, TX

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Prospect Hotel Group is a corporation located at 6851 West Fwy in Fort Worth, Texas that received a Coronavirus-related PPP loan from the SBA of $75,900.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$75,900

Jobs Retained:

7

Loan Approved:

2020-04-10

Lender:

GUARANTY BANK & TRUST, NATIONAL ASSOCIATION

Prospect Hotel Group received a Paycheck Protection Loan of $75,900 through GUARANTY BANK & TRUST, NATIONAL ASSOCIATION, which was approved in April, 2020.

2019 Payroll Estimations based On PPP Amount:

Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 0.

Based on standard PPP eligibility rules, Prospect Hotel Group's total 2019 payroll expenses were approximately $364,320 in order to qualify for the PPP loan amount received.

Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $52,046 per employee1.

Business Information - Prospect Hotel Group in Fort Worth, TX

Prospect Hotel Group
6851 West Fwy
Fort Worth, TX 76116

Business Industry

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

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: TX-12

Similar Companies near Fort Worth

In the Fort Worth area, 24 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 29 employees (compared to this company's 7) and received an average PPP loan of $323,579 (compared to this company's $75,900).

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, 200% higher than Prospect Hotel Group's reported 7 employees, and received an average PPP loan of $161,149, 112% higher than this company's loan of $75,900.

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.

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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/prospect-hotel-group-fort-worth-tx