PPP Loan Data — Chamber Of Commerce Of Independence, Independence, KS
Chamber Of Commerce Of Independence is a 501(c)6 – non profit membership located at 616 N Penn Ave in Independence, Kansas that received a Coronavirus-related PPP loan from the SBA of $24,959.00 in January, 2021.
The company has reported itself as a female owned non-profit, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Community National Bank & Trust
Chamber Of Commerce Of Independence in Independence, KS received a Paycheck Protection Loan of $24,959 through Community National Bank & Trust, which was approved in January, 2021.
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
Understanding Payroll Estimates Based On PPP Amount
Based 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, Chamber Of Commerce Of Independence's 2019 payroll expenses are estimated to be at least $119,803.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $59,902 per employee1
Reported PPP Proceed Usage:
On the PPP application, Chamber Of Commerce Of Independence reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,957
- Utilities: $1
Business Information - Chamber Of Commerce Of Independence in Independence, KS
616 N Penn Ave
Independence, KS 67301
NAICS code 813910
Business Owner Demographics
Gender: Female Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Independence
In the Independence area, 3 businesses in the "Business Associations" industry received a PPP loan. These local businesses reported an average of 1 employees (compared to this company's 2) and received an average PPP loan of $12,697 (compared to this company's $24,959).
Similar Nearby Businesses Who Received PPP Funding:
Independence Main Street, Inc
Industry PPP Comparison Statistics
Nationwide, 18,409 businesses in the "Business Associations" industry received a total of $1.18B 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 5 employees, 150% higher than Chamber Of Commerce Of Independence's reported 2 employees, and received an average PPP loan of $64,358, 158% higher than this company's loan of $24,959.
FederalPay's PPP Information Policy
Footnotes & Information
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