MHI HOSPITALITY TRS LLC
PPP Loan approved Apr 27, 2020 through Fifth Third Bank
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $9,432,900.00 | 100.0% |
About This Loan
MHI HOSPITALITY TRS LLC received a PPP loan of $9,432,900 approved on Apr 27, 2020. The loan was originated by Fifth Third Bank.
MHI HOSPITALITY TRS LLC is a corporation located in WILLIAMSBURG, Virginia. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Traveler Accommodation industry (NAICS 721110), part of the Accommodation and Food Services sector of the economy. The applicant reported 500 jobs as retained through this loan.
No forgiveness has been recorded for this loan in the SBA's September 2024 data release. Possible explanations include: the borrower chose to repay rather than apply for forgiveness; the forgiveness application was denied; the loan was still in repayment status at the time of the data freeze; or the borrower defaulted, leading to a charge-off.
According to the SBA's records, the proceeds of this loan were allocated as follows: $9,432,900 to payroll. The payroll component represents 100.0% 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 Virginia, visit the Virginia page. To compare this loan with others in the same industry, see the Traveler Accommodation industry page.