PPP Loan Data — University Motor Lodge, LLC, Amherst, MA
University Motor Lodge, LLC is a limited liability company (LLC) located at 329 North Pleasant Street in Amherst, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least eight people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Greenfield Savings Bank
University Motor Lodge, LLC in Amherst, MA received a Paycheck Protection Loan of $25,000 through Greenfield Savings Bank, which was approved in April, 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 February, 2021.
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, University Motor Lodge, LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $15,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, University Motor Lodge, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $18,750
- Utilities: $3,125
- Rent: $3,125
Business Information - University Motor Lodge, LLC in Amherst, MA
329 North Pleasant Street
Amherst, MA 1004
Hotels (except Casino Hotels) and Motels
NAICS code 721110
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 82,605 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13.95B 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, 188% higher than University Motor Lodge, LLC's reported 8 employees, and received an average PPP loan of $168,829, 575% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
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