PPP Loan Data — SMG I Hotel Waikoloa LLC, Waikoloa, HI
SMG I Hotel Waikoloa LLC is a limited liability company (LLC) located at 69-275 Waikoloa Beach Dr in Waikoloa, Hawaii that received a Coronavirus-related PPP loan from the SBA of $3,997,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of Hawaii
SMG I Hotel Waikoloa LLC in Waikoloa, HI received a Paycheck Protection Loan of $4M through Bank of Hawaii, 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
Understanding Payroll Estimates Based On PPP Amount
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, SMG I Hotel Waikoloa LLC's 2019 payroll expenses are estimated to be at least $19.19M.
Based on their reported 405 jobs retained, this equals an estimated average yearly compensation of $47,372 per employee1
Reported PPP Proceed Usage:
On the PPP application, SMG I Hotel Waikoloa LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,997,000
Business Information - SMG I Hotel Waikoloa LLC in Waikoloa, HI
69-275 Waikoloa Beach Dr
Waikoloa, HI 96738
Hotels (except Casino Hotels) and Motels
NAICS code 721110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as SMG I Hotel Waikoloa LLC.
Nanea Kai Inc
All Other Amusement and Recreation Industries
Similar Companies near Waikoloa
In the Waikoloa area, 2 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 203 employees (compared to this company's 405) and received an average PPP loan of $2,008,917 (compared to this company's $4M).
Similar Nearby Businesses Who Received PPP Funding:
Above And Beyond Proffessional Cleaning Services
Ocean View, HI
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, 94% lower than SMG I Hotel Waikoloa LLC's reported 405 employees, and received an average PPP loan of $169,748, 96% lower than this company's loan of $4M.
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Footnotes & Information
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