Resorttrust Hawaii, LLC in Honolulu, HI - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — Resorttrust Hawaii, LLC, Honolulu, HI

Resorttrust Hawaii, LLC

Entity: Corporation

Industry: Hotels (except Casino Hotels) and Motels

Location: Honolulu, HI

Resorttrust Hawaii, LLC is a corporation located at 5000 Kahala Ave in Honolulu, Hawaii that received a Coronavirus-related PPP loan from the SBA of $8,353,585.00 in April, 2020.

$ PPP Loan Information Loan #5683347210

Loan Size:

$8.35M

Jobs Retained:

445

Loan Approved:

2020-04-27

Loan Status:

Ongoing Loan

Lender:

First Hawaiian Bank

Resorttrust Hawaii, LLC in Honolulu, HI received a Paycheck Protection Loan of $8.35M through First Hawaiian 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.

Understanding 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.

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, Resorttrust Hawaii, LLC's 2019 payroll expenses are estimated to be at least $40.1M.

Based on their reported 445 jobs retained, this equals an estimated average yearly compensation of $90,106 per employee¹

Reported PPP Proceed Usage:

On the PPP application, Resorttrust Hawaii, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $8,353,585

Because the loan received by Resorttrust Hawaii, LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Resorttrust Hawaii, LLC in Honolulu, HI

Resorttrust Hawaii, LLC
5000 Kahala Ave
Honolulu, HI 96816

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: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Honolulu County, HI — SBA Office 0951 — Congressional District: HI-01

Similar Companies near Honolulu

In the Honolulu area, 61 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 91 employees (compared to this company's 445) and received an average PPP loan of $1,163,471 (compared to this company's $8.35M).

Similar Nearby Businesses Who Received PPP Funding:

Hawaii Sekitei Corp
Honolulu, HI

$61,448 PPP Loan

Otrg Hotel Hawaii, LLC
Honolulu, HI

$1.9M PPP Loan

Holiday Surf Hotel, Inc
Honolulu, HI

$37,858 PPP Loan

Otrg Orf, LLC
Honolulu, HI

$1.9M PPP Loan

Gateway Management Company LLC
Honolulu, HI

$926,891 PPP Loan

Otrg Ohana, LLC
Honolulu, HI

$1.23M PPP Loan

Robert's Hawaii Hotels Inc
Honolulu, HI

$153,153 PPP Loan

White Sands Owner, LLC
Honolulu, HI

$171,345 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 76,920 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13,340,025,513.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 24 employees, 95% lower than Resorttrust Hawaii, LLC's reported 445 employees, and received an average PPP loan of $173,427, 98% lower than this company's loan of $8.35M.

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.

Search FederalPay's Full PPP Loan Database

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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