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PPP Loan Data — RWH Holdings Inc, West Hollywood, CA

ALERT: There are 2 PPP loans for a total of $853,285 in our database for businesses with the name "RWH Holdings Inc" in West Hollywood, CA. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for RWH Holdings Inc

FRANCHISE

CA

RWH Holdings Inc

Entity: Corporation

Industry: Hotels (except Casino Hotels) and Motels

Franchise: Ramada by Wyndham

Location: West Hollywood, CA

Search All PPP Data

RWH Holdings Inc is a corporation located at 8585 Santa Monica Blvd in West Hollywood, California that received a Coronavirus-related PPP loan from the SBA of $501,340.00 in March, 2021. This business is a Ramada by Wyndham franchise.

$ PPP Loan Information
Loan #1172198601

Loan Size:

$501,340

Jobs Retained:

18

Loan Approved:

2021-03-12

Loan Status:

Ongoing Loan

Lender:

Community Federal Savings Bank
Likely Employment Reduction3

RWH Holdings Inc in West Hollywood, CA received a Paycheck Protection Loan of $501,340 through Community Federal Savings Bank, which was approved in March, 2021.

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. The loan's status was last updated by the SBA in November, -0001.

The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 18 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.

The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 24. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.

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 More
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.

Read More

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, RWH Holdings Inc's 2019 payroll expenses are estimated to be at least $2.41M (not accounting for salary amounts > $100k).

Because the 18 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.

Reported PPP Proceed Usage:

On the PPP application, RWH Holdings Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $501,334
  • Utilities: $1

Business Information - RWH Holdings Inc in West Hollywood, CA

RWH Holdings Inc
8585 Santa Monica Blvd
West Hollywood, CA 90069

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

Los Angeles County, CA — SBA Office 0914 — Congressional District: CA-28

Similar Companies near West Hollywood

In the West Hollywood area, 38 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 53 employees (compared to this company's 18) and received an average PPP loan of $669,071 (compared to this company's $501,340).

Industry PPP Comparison Statistics

Nationwide, 81,995 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13.92B 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, 28% higher than RWH Holdings Inc's reported 18 employees, and received an average PPP loan of $169,748, 66% lower than this company's loan of $501,340.

SBA PPP loan data, payroll data, and salaries for RWH Holdings Inc

FRANCHISE

CA

RWH Holdings Inc

Entity: Corporation

Industry: Hotels (except Casino Hotels) and Motels

Franchise: Ramada by Wyndham

Location: West Hollywood, CA

Search All PPP Data

RWH Holdings Inc is a corporation located at 8585 Santa Monica Blvd in West Hollywood, California that received a Coronavirus-related PPP loan from the SBA of $351,945.00 in May, 2020. This business is a Ramada by Wyndham franchise.

$ PPP Loan Information
Loan #4509767708

Loan Size:

$351,945

Jobs Retained:

48

Loan Approved:

2020-05-01

Loan Status:

Paid in Full or Forgiven

Lender:

Wells Fargo Bank, National Association

RWH Holdings Inc in West Hollywood, CA received a Paycheck Protection Loan of $351,945 through Wells Fargo Bank, National Association, which was approved in May, 2020.

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 June, 2021.

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 More
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.

Read More

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, RWH Holdings Inc's 2019 payroll expenses are estimated to be at least $1.69M.

Based on their reported 48 jobs retained, this equals an estimated average yearly compensation of $35,195 per employee1

Reported PPP Proceed Usage:

On the PPP application, RWH Holdings Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $351,945

Business Information - RWH Holdings Inc in West Hollywood, CA

RWH Holdings Inc
8585 Santa Monica Blvd
West Hollywood, CA 90069

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

Los Angeles County, CA — SBA Office 0914 — Congressional District: CA-28

Similar Companies near West Hollywood

In the West Hollywood area, 38 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 53 employees (compared to this company's 48) and received an average PPP loan of $669,071 (compared to this company's $351,945).

Industry PPP Comparison Statistics

Nationwide, 81,995 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13.92B 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, 52% lower than RWH Holdings Inc's reported 48 employees, and received an average PPP loan of $169,748, 52% lower than this company's loan of $351,945.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/rwh-holdings-inc-west-hollywood-ca