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PPP Loan Data — UST Prime III Hotel Owner LP, Orlando, FL

ALERT: There are 2 PPP loans for a total of $7.01M in our database for businesses with the name "UST Prime III Hotel Owner LP" in Orlando, FL. 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 UST Prime III Hotel Owner LP
FL

UST Prime III Hotel Owner LP

Entity: Limited Liability Partnership

Industry: Hotels (except Casino Hotels) and Motels

Location: Orlando, FL

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UST Prime III Hotel Owner LP is a limited liability partnership located at 4705 S Apopka Vineland Rd in Orlando, Florida that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.

$ PPP Loan Information
Loan #1846648504

Loan Size:

$2M

Jobs Retained:

148

Loan Approved:

2021-02-19

Loan Status:

Active Un-Disbursed

Lender:

Truist Bank d/b/a Branch Banking & Trust Co
PPP Funds Undisbursed

UST Prime III Hotel Owner LP in Orlando, FL received a Paycheck Protection Loan of $2M through Truist Bank d/b/a Branch Banking & Trust Co, which was approved in February, 2021.

While this loan has been approved by the Small Business Administration, the lender has not reported to the SBA that the loan funds were disbursed to the borrower. According to SBA records, a total of $2M in approved PPP funding has not been disbursed. 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

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, UST Prime III Hotel Owner LP's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 148 jobs retained, this equals an estimated average yearly compensation of $64,865 per employee1

Reported PPP Proceed Usage:

On the PPP application, UST Prime III Hotel Owner LP 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 UST Prime III Hotel Owner LP 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 - UST Prime III Hotel Owner LP in Orlando, FL

UST Prime III Hotel Owner LP
4705 S Apopka Vineland Rd
Orlando, FL 32819

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: N

HUBZone: N

Rural / Urban: Urban

Orange County, FL — SBA Office 0491 — Congressional District: FL-10

Similar Companies near Orlando

In the Orlando area, 87 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 47 employees (compared to this company's 148) and received an average PPP loan of $377,925 (compared to this company's $2M).

Industry PPP Comparison Statistics

Nationwide, 76,144 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13.3B 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 24 employees, 84% lower than UST Prime III Hotel Owner LP's reported 148 employees, and received an average PPP loan of $174,695, 91% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for UST Prime III Hotel Owner, LP
FL

UST Prime III Hotel Owner, LP

Entity: Limited Liability Partnership

Industry: Hotels (except Casino Hotels) and Motels

Location: Orlando, FL

Search All PPP Data

UST Prime III Hotel Owner, LP is a limited liability partnership located at 4705 S Apopka Vineland Rd Ste 201 in Orlando, Florida that received a Coronavirus-related PPP loan from the SBA of $5,006,899.00 in April, 2020.

$ PPP Loan Information
Loan #1080277107

Loan Size:

$5.01M

Jobs Retained:

343

Loan Approved:

2020-04-09

Loan Status:

Ongoing Loan

Lender:

Truist Bank d/b/a Branch Banking & Trust Co

UST Prime III Hotel Owner, LP in Orlando, FL received a Paycheck Protection Loan of $5.01M through Truist Bank d/b/a Branch Banking & Trust Co, 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 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, UST Prime III Hotel Owner, LP's 2019 payroll expenses are estimated to be at least $24.03M.

Based on their reported 343 jobs retained, this equals an estimated average yearly compensation of $70,067 per employee1

Reported PPP Proceed Usage:

On the PPP application, UST Prime III Hotel Owner, LP reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $5,006,899
Because the loan received by UST Prime III Hotel Owner, LP 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 - UST Prime III Hotel Owner, LP in Orlando, FL

UST Prime III Hotel Owner, LP
4705 S Apopka Vineland Rd Ste 201
Orlando, FL 32819

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: N

HUBZone: N

Rural / Urban: Urban

Orange County, FL — SBA Office 0491 — Congressional District: FL-10

Similar Companies near Orlando

In the Orlando area, 87 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 47 employees (compared to this company's 343) and received an average PPP loan of $377,925 (compared to this company's $5.01M).

Industry PPP Comparison Statistics

Nationwide, 76,144 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13.3B 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 24 employees, 93% lower than UST Prime III Hotel Owner, LP's reported 343 employees, and received an average PPP loan of $174,695, 97% lower than this company's loan of $5.01M.

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/ust-prime-iii-hotel-owner-lp-orlando-fl