REINS INTERNATIONAL (USA) CO., LTD.
PPP Loan approved Apr 13, 2020 through JPMorgan Chase Bank, National Association
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $6,564,618.00 | 75.0% |
| Utilities | $295,845.00 | 3.4% |
| Rent / Lease | $1,633,942.00 | 18.7% |
| Mortgage Interest | $121,347.00 | 1.4% |
| Health Care | $137,073.00 | 1.6% |
About This Loan
REINS INTERNATIONAL (USA) CO., LTD. received a PPP loan of $8,752,825 approved on Apr 13, 2020. The loan was originated by JPMorgan Chase Bank, National Association.
REINS INTERNATIONAL (USA) CO., LTD. is a corporation located in HONOLULU, Hawaii. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Accommodation and Food Services industry (NAICS 722511), part of the Accommodation and Food Services sector of the economy. The applicant reported 500 jobs as retained through this loan.
The SBA forgave $8,872,198.94 of this loan — 101.4% of the total approved amount, with forgiveness recorded on Aug 30, 2021. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.
According to the SBA's records, the proceeds of this loan were allocated as follows: $6,564,618 to payroll, $295,845 to utilities, $1,633,942 to rent or lease obligations, $121,347 to mortgage interest, $137,073 to health care costs. The payroll component represents 75.0% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in Hawaii, visit the Hawaii page. To compare this loan with others in the same industry, see the Accommodation and Food Services industry page.