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PPP Loan Data — West Hollywood Hotel LLC,
New York, 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 233 Broadway Rm 2305 in New York, New York that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.
$
PPP Loan Information
Loan #8486448500
Loan Size:
Jobs Retained:
170Loan Approved:
2021-03-10Loan Status:
Paid in Full or ForgivenLender:
Manufacturers and Traders Trust CompanyWest Hollywood Hotel LLC in New York, NY received a Paycheck Protection Loan of $2M through Manufacturers and Traders Trust Company, which was approved in March, 2021.
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 September, 2022.
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 MoreUnderstanding 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 MoreBased 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, West Hollywood Hotel LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 170 jobs retained, this equals an estimated average yearly compensation of $56,471 per employee1
Reported PPP Proceed Usage:
On the PPP application, West Hollywood Hotel LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,997
- Utilities: $1
Business Information - West Hollywood Hotel LLC in New York, NY
233 Broadway Rm 2305
New York, NY 10279
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
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as West Hollywood Hotel LLC.
215 Chrystie LLC
Hotels (except Casino Hotels) and Motels
Similar Companies near New York
In the New York area, 2 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 227 employees (compared to this company's 170) and received an average PPP loan of $2,000,000 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
215 Chrystie LLC
New York, NY
Industry PPP Comparison Statistics
Nationwide, 81,976 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, 86% lower than West Hollywood Hotel LLC's reported 170 employees, and received an average PPP loan of $169,775, 92% lower than this company's loan of $2M.
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 #9247267103
Loan Size:
Jobs Retained:
401Loan Approved:
2020-04-15Loan Status:
Ongoing LoanLender:
Manufacturers and Traders Trust CompanyWest Hollywood Hotel LLC in New York, NY received a Paycheck Protection Loan of $6.23M through Manufacturers and Traders Trust Company, 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 MoreUnderstanding 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 MoreBased 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, West Hollywood Hotel LLC's 2019 payroll expenses are estimated to be at least $29.89M.
Based on their reported 401 jobs retained, this equals an estimated average yearly compensation of $74,548 per employee1
Reported PPP Proceed Usage:
On the PPP application, West Hollywood Hotel LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,670,914
- Mortgage Interest: $1,556,971
Business Information - West Hollywood Hotel LLC in New York, NY
40 West 57th Street
New York, NY 10019
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: New Business or 2 years or less
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There are 3 other businesses that received a PPP loan registered to the same address as West Hollywood Hotel LLC.
WG Lv Development LLC
Residential Property Managers
Morgan Point Hotel LLC
Casino Hotels
215 Chrystie LLC
Hotels (except Casino Hotels) and Motels
Similar Companies near New York
In the New York area, 177 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 65 employees (compared to this company's 401) and received an average PPP loan of $858,473 (compared to this company's $6.23M).
Similar Nearby Businesses Who Received PPP Funding:
Granite Qp Hotel LLC
New York, NY
49Th Street Realty Co LLC
New York, NY
BB Moxy LLC
New York, NY
Bowery F&B, LLC
New York, NY
MTS NY Lessee, LP
New York, NY
AHM NY Associates
New York, NY
Granite Jfk LLC
New York, NY
Two Rivers Operating Tenant LLC
New York, NY
233 West 49Th Street Realty Corp
New York, NY
Industry PPP Comparison Statistics
Nationwide, 81,976 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, 94% lower than West Hollywood Hotel LLC's reported 401 employees, and received an average PPP loan of $169,775, 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. 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.
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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