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PPP Loan Data — U.s. Hotel Osp Ventures LLC, Sioux Falls, SD

ALERT: There are 2 PPP loans for a total of $4.85M in our database for businesses with the name "U.s. Hotel Osp Ventures LLC" in Sioux Falls, SD. 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 U.s. Hotel Osp Ventures LLC
SD

U.s. Hotel Osp Ventures LLC

Entity: Limited Liability Company (LLC)

Industry: Hotels (except Casino Hotels) and Motels

Location: Sioux Falls, SD

Search All PPP Data

U.s. Hotel Osp Ventures LLC is a limited liability company (LLC) located at 122 S Phillips Ave Ste 230 in Sioux Falls, South Dakota that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.

$ PPP Loan Information
Loan #3877478307

Loan Size:

$2M

Jobs Retained:

300

Loan Approved:

2021-01-22

Loan Status:

Ongoing Loan

Lender:

First National Bank

U.s. Hotel Osp Ventures LLC in Sioux Falls, SD received a Paycheck Protection Loan of $2M through First National Bank, which was approved in January, 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.

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, U.s. Hotel Osp Ventures LLC's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 300 jobs retained, this equals an estimated average yearly compensation of $32,000 per employee1

Reported PPP Proceed Usage:

On the PPP application, U.s. Hotel Osp Ventures LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,997
  • Utilities: $1
Because the loan received by U.s. Hotel Osp Ventures LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - U.s. Hotel Osp Ventures LLC in Sioux Falls, SD

U.s. Hotel Osp Ventures LLC
122 S Phillips Ave Ste 230
Sioux Falls, SD 57104

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: Y

HUBZone: Y

Rural / Urban: Urban

Minnehaha County, SD — SBA Office 0876 — Congressional District: SD-

Businesses Using Same Address:

There are 2 other businesses that received a PPP loan registered to the same address as U.s. Hotel Osp Ventures LLC.

The Ramkota Companies Inc
Hotels (except Casino Hotels) and Motels

$1.1M PPP Loan

Regency Midwest Ventures Limited Partnership
Hotels (except Casino Hotels) and Motels

$2M PPP Loan

Similar Companies near Sioux Falls

In the Sioux Falls area, 50 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 49 employees (compared to this company's 300) and received an average PPP loan of $358,454 (compared to this company's $2M).

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, 92% lower than U.s. Hotel Osp Ventures LLC's reported 300 employees, and received an average PPP loan of $169,748, 92% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for U.s. Hotel Osp Ventures, LLC
SD

U.s. Hotel Osp Ventures, LLC

Entity: Limited Liability Company (LLC)

Industry: Hotels (except Casino Hotels) and Motels

Location: Sioux Falls, SD

Search All PPP Data

U.s. Hotel Osp Ventures, LLC is a limited liability company (LLC) located at 122 S Phillips Ave, Suite 230 in Sioux Falls, South Dakota that received a Coronavirus-related PPP loan from the SBA of $2,853,700.00 in April, 2020.

$ PPP Loan Information
Loan #4396097003

Loan Size:

$2.85M

Jobs Retained:

250

Loan Approved:

2020-04-03

Loan Status:

Paid in Full or Forgiven

Lender:

First National Bank

U.s. Hotel Osp Ventures, LLC in Sioux Falls, SD received a Paycheck Protection Loan of $2.85M through First National 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 July, 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, U.s. Hotel Osp Ventures, LLC's 2019 payroll expenses are estimated to be at least $13.7M.

Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $54,791 per employee1

Reported PPP Proceed Usage:

On the PPP application, U.s. Hotel Osp Ventures, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,853,700
Because the loan received by U.s. Hotel Osp Ventures, LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - U.s. Hotel Osp Ventures, LLC in Sioux Falls, SD

U.s. Hotel Osp Ventures, LLC
122 S Phillips Ave, Suite 230
Sioux Falls, SD 57104

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: Y

HUBZone: Y

Rural / Urban: Urban

Minnehaha County, SD — SBA Office 0876 — Congressional District: SD-

Similar Companies near Sioux Falls

In the Sioux Falls area, 50 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 49 employees (compared to this company's 250) and received an average PPP loan of $358,454 (compared to this company's $2.85M).

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, 91% lower than U.s. Hotel Osp Ventures, LLC's reported 250 employees, and received an average PPP loan of $169,748, 94% lower than this company's loan of $2.85M.

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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Source: www.federalpay.org/paycheck-protection-program/us-hotel-osp-ventures-llc-sioux-falls-sd