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PPP Loan Data — Willard Associates LP,
Washington, DC
Willard Associates LP
Entity: Limited Liability Partnership
Industry: Hotels (except Casino Hotels) and Motels
Location: Washington, DC
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Willard Associates LP is a limited liability partnership located at 1455 Pennsylvania Ave Nw Ste 200 in Washington, District of Columbia that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.
$
PPP Loan Information
Loan #8106618306
Loan Size:
Jobs Retained:
292Loan Approved:
2021-01-29Loan Status:
Paid in Full or ForgivenLender:
EagleBankWillard Associates LP in Washington, DC received a Paycheck Protection Loan of $2M through EagleBank, which was approved in January, 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 June, 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, Willard Associates LP's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 292 jobs retained, this equals an estimated average yearly compensation of $32,877 per employee1
Reported PPP Proceed Usage:
On the PPP application, Willard Associates LP reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,998
- Utilities: $1
Business Information - Willard Associates LP in Washington, DC
1455 Pennsylvania Ave Nw Ste 200
Washington, DC 20004
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 are 4 other businesses that received a PPP loan registered to the same address as Willard Associates LP.
Carr 1106 West Main Street LLC
Hotels (except Casino Hotels) and Motels
Carr 220 South Union Street LLC
Hotels (except Casino Hotels) and Motels
Carr Companies LLC
Other Activities Related to Real Estate
Carr-Wharf 3B Hotel Lessee LLC
Hotels (except Casino Hotels) and Motels
Similar Companies near Washington
In the Washington area, 23 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 76 employees (compared to this company's 292) and received an average PPP loan of $960,639 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Hotel Hive DC, LLC
Washington, DC
Carr 220 South Union Street, LLC
Washington, DC
Harrington Hotel Co Inc
Washington, DC
Woodbine Legacy Investment Partners, LP
Washington, DC
Partners At 723 8Th St Se, LLC
Washington, DC
Fourth Estate Hospitality LLC
Washington, DC
Carr-Wharf 3B Hotel Lessee LLC
Washington, DC
Carr 1106 West Main Street LLC
Washington, DC
Industry PPP Comparison Statistics
Nationwide, 81,979 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 Willard Associates LP's reported 292 employees, and received an average PPP loan of $169,801, 92% lower than this company's loan of $2M.
Willard Associates, LP
Entity: Limited Liability Partnership
Industry: Hotels (except Casino Hotels) and Motels
Location: Washington, DC
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Willard Associates, LP is a limited liability partnership located at 1455 Pennsylvania Ave Nw in Washington, District of Columbia that received a Coronavirus-related PPP loan from the SBA of $4,812,642.00 in April, 2020.
$
PPP Loan Information
Loan #3941747206
Loan Size:
Jobs Retained:
314Loan Approved:
2020-04-27Loan Status:
Paid in Full or ForgivenLender:
EagleBankWillard Associates, LP in Washington, DC received a Paycheck Protection Loan of $4.81M through EagleBank, 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 August, 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 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, Willard Associates, LP's 2019 payroll expenses are estimated to be at least $23.1M.
Based on their reported 314 jobs retained, this equals an estimated average yearly compensation of $73,569 per employee1
Reported PPP Proceed Usage:
On the PPP application, Willard Associates, LP reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,812,642
Business Information - Willard Associates, LP in Washington, DC
1455 Pennsylvania Ave Nw
Washington, DC 20004
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 Willard Associates, LP.
Bickerman Dispute Resolution PLLC
Offices of Lawyers
Carr 220 South Union Street, LLC
Hotels (except Casino Hotels) and Motels
Carr Companies, LLC
Other Activities Related to Real Estate
Similar Companies near Washington
In the Washington area, 23 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 76 employees (compared to this company's 314) and received an average PPP loan of $960,639 (compared to this company's $4.81M).
Similar Nearby Businesses Who Received PPP Funding:
Hotel Hive DC, LLC
Washington, DC
Carr 220 South Union Street, LLC
Washington, DC
Harrington Hotel Co Inc
Washington, DC
Woodbine Legacy Investment Partners, LP
Washington, DC
Partners At 723 8Th St Se, LLC
Washington, DC
Fourth Estate Hospitality LLC
Washington, DC
Carr-Wharf 3B Hotel Lessee LLC
Washington, DC
Carr 1106 West Main Street LLC
Washington, DC
Industry PPP Comparison Statistics
Nationwide, 81,979 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, 93% lower than Willard Associates, LP's reported 314 employees, and received an average PPP loan of $169,801, 96% lower than this company's loan of $4.81M.
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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