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PPP Loan Data — Provenance Hotel Partners Fund I LLC,
Portland, OR
Provenance Hotel Partners Fund I LLC
Entity: Limited Liability Company (LLC)
Industry: Hotels (except Casino Hotels) and Motels
Location: Portland, OR
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Provenance Hotel Partners Fund I LLC is a limited liability company (LLC) located at 808 Sw Alder St Ste 300 in Portland, Oregon that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.
$
PPP Loan Information
Loan #3245688607
Loan Size:
Jobs Retained:
500Loan Approved:
2021-03-16Loan Status:
Paid in Full or ForgivenLender:
Washington Trust BankProvenance Hotel Partners Fund I LLC in Portland, OR received a Paycheck Protection Loan of $2M through Washington Trust Bank, which was approved in March, 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 February, 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, Provenance Hotel Partners Fund I LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $19,200 per employee1
Reported PPP Proceed Usage:
On the PPP application, Provenance Hotel Partners Fund I LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,996
- Utilities: $1
Business Information - Provenance Hotel Partners Fund I LLC in Portland, OR
808 Sw Alder St Ste 300
Portland, OR 97205
Business Industry:
Hotels (except Casino Hotels) and Motels
NAICS code 721110
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: Y
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Provenance Hotel Partners Fund I LLC.
Aspen Lodging Group LLC
Hotels (except Casino Hotels) and Motels
Similar Companies near Portland
In the Portland area, 23 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 95 employees (compared to this company's 500) and received an average PPP loan of $833,954 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Benson Hotel Limited Partnership
Portland, OR
Tiny Digs LLC
Portland, OR
Columbia Point Hospitality, LLC
Portland, OR
Command Management Services, Inc
Portland, OR
Deluxe Param LLC
Portland, OR
ACE Hotel Portland, LLC
Portland, OR
925 Park Avenue Associates, LLC
Portland, OR
Katchis LLC DBA The Georgia Hotel
Portland, OR
Meadowwood Hospitality Inc
Portland, OR
Industry PPP Comparison Statistics
Nationwide, 81,953 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13.91B 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, 95% lower than Provenance Hotel Partners Fund I LLC's reported 500 employees, and received an average PPP loan of $169,738, 92% lower than this company's loan of $2M.
Provenance Hotel Partners Fund I LLC
Entity: Limited Liability Company (LLC)
Industry: Hotels (except Casino Hotels) and Motels
Location: Portland, OR
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Provenance Hotel Partners Fund I LLC is a limited liability company (LLC) located at 808 Sw Alder St Ste 300 in Portland, Oregon that received a Coronavirus-related PPP loan from the SBA of $5,512,700.00 in April, 2020.
$
PPP Loan Information
Loan #8631377003
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-08Loan Status:
Ongoing LoanLender:
Washington Trust BankProvenance Hotel Partners Fund I LLC in Portland, OR received a Paycheck Protection Loan of $5.51M through Washington Trust Bank, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Provenance Hotel Partners Fund I LLC's 2019 payroll expenses are estimated to be at least $26.46M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $52,922 per employee1
Reported PPP Proceed Usage:
On the PPP application, Provenance Hotel Partners Fund I LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $5,512,700
Business Information - Provenance Hotel Partners Fund I LLC in Portland, OR
808 Sw Alder St Ste 300
Portland, OR 97205
Business Industry:
Hotels (except Casino Hotels) and Motels
NAICS code 721110
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age:
LMI Zone: N
HUBZone: Y
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Provenance Hotel Partners Fund I LLC.
Aspen Lodging Group LLC
Hotels (except Casino Hotels) and Motels
Similar Companies near Portland
In the Portland area, 23 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 95 employees (compared to this company's 500) and received an average PPP loan of $833,954 (compared to this company's $5.51M).
Similar Nearby Businesses Who Received PPP Funding:
Benson Hotel Limited Partnership
Portland, OR
Tiny Digs LLC
Portland, OR
Columbia Point Hospitality, LLC
Portland, OR
Command Management Services, Inc
Portland, OR
Deluxe Param LLC
Portland, OR
ACE Hotel Portland, LLC
Portland, OR
925 Park Avenue Associates, LLC
Portland, OR
Katchis LLC DBA The Georgia Hotel
Portland, OR
Meadowwood Hospitality Inc
Portland, OR
Industry PPP Comparison Statistics
Nationwide, 81,953 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13.91B 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, 95% lower than Provenance Hotel Partners Fund I LLC's reported 500 employees, and received an average PPP loan of $169,738, 97% lower than this company's loan of $5.51M.
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.
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