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PPP Loan Data — Setai Hotel Acquisition LLC,
New York, NY
Setai Hotel Acquisition LLC
Entity: Limited Liability Company (LLC)
Industry: Hotels (except Casino Hotels) and Motels
Location: New York, NY
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Setai Hotel Acquisition LLC is a limited liability company (LLC) located at 1400 Broadway in New York, New York that received a Coronavirus-related PPP loan from the SBA of $2,826,735.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
300Loan Approved:
2020-04-28Lender:
HSBC BANK USA, NATIONAL ASSOCIATIONSetai Hotel Acquisition LLC received a Paycheck Protection Loan of $2.83M through HSBC BANK USA, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Setai Hotel Acquisition LLC's total 2019 payroll expenses were approximately $13.57M in order to qualify for the PPP loan amount received.
Based on their reported 300 jobs retained, this equals an estimated average yearly compensation of $45,228 per employee1.
Business Information - Setai Hotel Acquisition LLC in New York, NY
1400 Broadway
New York, NY 10018
Business Industry
Hotels (except Casino Hotels) and Motels (NAICS code 721110)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: NY-12Similar Companies near New York
In the New York area, 114 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 57 employees (compared to this company's 300) and received an average PPP loan of $1,035,722 (compared to this company's $2.83M).
Similar Nearby Businesses Who Received PPP Funding:
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Freedom Hospitality
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POD Bk Hotel LLC
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Marlton Hotel Operating LLC
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Tishman Hotel LP
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449 Hudson Mgt Corp
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W38 Boutique Inn LLC
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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, 93% lower than Setai Hotel Acquisition LLC's reported 300 employees, and received an average PPP loan of $161,149, 94% lower than this company's loan of $2.83M.
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.
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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