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PPP Loan Data — West Hollywood Hotel LLC, New York, NY

SBA PPP loan data, payroll data, and salaries for West Hollywood Hotel LLC
NY

West Hollywood Hotel LLC

Entity: Limited Liability Company (LLC)

Industry: Hotels (except Casino Hotels) and Motels

Location: New York, NY

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West Hollywood Hotel LLC is a limited liability company (LLC) located at 40 West 57th Street in New York, New York that received a Coronavirus-related PPP loan from the SBA of $6,227,885.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$6.23M

Jobs Retained:

401

Loan Approved:

2020-04-15

Lender:

MANUFACTURERS AND TRADERS TRUST COMPANY

West Hollywood Hotel LLC received a Paycheck Protection Loan of $6.23M through MANUFACTURERS AND TRADERS TRUST COMPANY, which was approved in April, 2020.

Based on standard PPP eligibility rules, West Hollywood Hotel LLC's total 2019 payroll expenses were approximately $29.89M in order to qualify for the PPP loan amount received.

Based on their reported 401 jobs retained, this equals an estimated average yearly compensation of $74,548 per employee1.

Because the loan received by West Hollywood Hotel 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 - West Hollywood Hotel LLC in New York, NY

West Hollywood Hotel LLC
40 West 57th Street
New York, NY 10019

Business Industry

Hotels (except Casino Hotels) and Motels (NAICS code 721110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NY-10

Similar Companies near New York

In the New York area, 89 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 42 employees (compared to this company's 401) and received an average PPP loan of $1,040,658 (compared to this company's $6.23M).

Industry PPP Comparison Statistics

Nationwide, 41,528 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $6,692,184,447.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 21 employees, 95% lower than West Hollywood Hotel LLC's reported 401 employees, and received an average PPP loan of $161,149, 97% lower than this company's loan of $6.23M.

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.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/west-hollywood-hotel-llc-new-york-ny