PPP Loan Data — Virginia Lakes Resort, Bridgeport, CA
Virginia Lakes Resort is a sole proprietorship located at Hc 62 in Bridgeport, California that received a Coronavirus-related PPP loan from the SBA of $25,309.00 in June, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Oak Valley Community Bank
Virginia Lakes Resort in Bridgeport, CA received a Paycheck Protection Loan of $25,309 through Oak Valley Community Bank, which was approved in June, 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 May, 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, Virginia Lakes Resort's 2019 payroll expenses are estimated to be at least $121,483.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $17,355 per employee1
Reported PPP Proceed Usage:
On the PPP application, Virginia Lakes Resort reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,309
Business Information - Virginia Lakes Resort in Bridgeport, CA
Bridgeport, CA 93517
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
Similar Companies near Bridgeport
In the Bridgeport area, 9 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 7) and received an average PPP loan of $52,582 (compared to this company's $25,309).
Similar Nearby Businesses Who Received PPP Funding:
Sierra Sundance, Inc
Eastern Sierra Recreation Inc
Advanced American Communications Inc
Ruby Inns, Inc
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, 229% higher than Virginia Lakes Resort's reported 7 employees, and received an average PPP loan of $168,829, 567% higher than this company's loan of $25,309.
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Footnotes & Information
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