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PPP Loan Data — Travel Traders Hotels Inc,
Miami, FL
Travel Traders Hotels Inc
Entity: Corporation
Industry: Snack and Nonalcoholic Beverage Bars
Location: Miami, FL
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Travel Traders Hotels Inc is a corporation located at 6205 Blue Lagoon Dr Ste 550 in Miami, Florida that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.
$
PPP Loan Information
Loan #7776108605
Loan Size:
Jobs Retained:
364Loan Approved:
2021-03-24Loan Status:
Paid in Full or ForgivenLender:
FirstBank Puerto RicoTravel Traders Hotels Inc in Miami, FL received a Paycheck Protection Loan of $2M through FirstBank Puerto Rico, 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 April, 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 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, Travel Traders Hotels Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 364 jobs retained, this equals an estimated average yearly compensation of $26,374 per employee1
Reported PPP Proceed Usage:
On the PPP application, Travel Traders Hotels Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,994
- Utilities: $1
Business Information - Travel Traders Hotels Inc in Miami, FL
6205 Blue Lagoon Dr Ste 550
Miami, FL 33126
Business Industry:
Snack and Nonalcoholic Beverage Bars
NAICS code 722515
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: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near Miami
In the Miami area, 12 businesses in the "Snack and Nonalcoholic Beverage Bars" industry received a PPP loan. These local businesses reported an average of 36 employees (compared to this company's 364) and received an average PPP loan of $204,305 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Flavian Gelato LLC
Miami, FL
Abel Delgado Lastres
Miami, FL
Nabati LLC
Miami, FL
Pasion Del Cielo Downtown Doral LLC
Doral, FL
Vegan Marie LLC
Miami, FL
Miami Kava, LLC
Miami, FL
Panther Coffee LLC
Miami, FL
Panther Coffee Little Haiti, LLC
Miami, FL
Industry PPP Comparison Statistics
Nationwide, 27,223 businesses in the "Snack and Nonalcoholic Beverage Bars" industry received a total of $1.43B 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 11 employees, 97% lower than Travel Traders Hotels Inc's reported 364 employees, and received an average PPP loan of $52,375, 97% lower than this company's loan of $2M.
Travel Traders Hotels Inc
Entity: Corporation
Industry: Gift, Novelty, and Souvenir Stores
Location: Miami, FL
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Travel Traders Hotels Inc is a corporation located at 6205 Blue Lagoon Dr in Miami, Florida that received a Coronavirus-related PPP loan from the SBA of $6,748,700.00 in April, 2020.
$
PPP Loan Information
Loan #7071767009
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-07Loan Status:
Ongoing LoanLender:
Fifth Third BankTravel Traders Hotels Inc in Miami, FL received a Paycheck Protection Loan of $6.75M through Fifth Third 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, Travel Traders Hotels Inc's 2019 payroll expenses are estimated to be at least $32.39M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $64,788 per employee1
Reported PPP Proceed Usage:
On the PPP application, Travel Traders Hotels Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $6,748,700
Business Information - Travel Traders Hotels Inc in Miami, FL
6205 Blue Lagoon Dr
Miami, FL 33126
Business Industry:
Gift, Novelty, and Souvenir Stores
NAICS code 453220
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
Similar Companies near Miami
In the Miami area, 10 businesses in the "Gift, Novelty, and Souvenir Stores" industry received a PPP loan. These local businesses reported an average of 52 employees (compared to this company's 500) and received an average PPP loan of $682,612 (compared to this company's $6.75M).
Similar Nearby Businesses Who Received PPP Funding:
Bomboniere USA Inc
Miami, FL
Isabel Alomia
Doral, FL
G And L Eastern Inc
Miami, FL
Merilene Dormeus
Miami, FL
Miami Gallery And Company LLC
Miami, FL
Miami Gallery & Company LLC
Miami, FL
Joy Sea Enterprises Inc
Miami, FL
Beepers Etc Etc By Impact Inc
Miami, FL
Industry PPP Comparison Statistics
Nationwide, 17,149 businesses in the "Gift, Novelty, and Souvenir Stores" industry received a total of $569.8M 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 6 employees, 99% lower than Travel Traders Hotels Inc's reported 500 employees, and received an average PPP loan of $33,227, 100% lower than this company's loan of $6.75M.
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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