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PPP Loan Data — Christ Covenant Church,
Baton Rouge, LA
Christ Covenant Church
Entity: Professional Association
Industry: Religious Organizations
Location: Baton Rouge, LA
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Christ Covenant Church is a professional association located at 1700 Lee Drive in Baton Rouge, Louisiana that received a Coronavirus-related PPP loan from the SBA of $175,400.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 30 people during the applicable loan loan period.
$
PPP Loan Information
Loan #5962727209
Loan Size:
Jobs Retained:
30Loan Approved:
2020-04-27Loan Status:
Paid in Full or ForgivenLender:
Investar Bank, National AssociationChrist Covenant Church in Baton Rouge, LA received a Paycheck Protection Loan of $175,400 through Investar Bank, National Association, 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 December, 2020.
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, Christ Covenant Church's 2019 payroll expenses are estimated to be at least $841,920.
Based on their reported 30 jobs retained, this equals an estimated average yearly compensation of $28,064 per employee1
Reported PPP Proceed Usage:
On the PPP application, Christ Covenant Church reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $175,400
Business Information - Christ Covenant Church in Baton Rouge, LA
1700 Lee Drive
Baton Rouge, LA 70808
Business Industry:
Religious Organizations
NAICS code 813110
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Baton Rouge
In the Baton Rouge area, 39 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 36 employees (compared to this company's 30) and received an average PPP loan of $182,287 (compared to this company's $175,400).
Similar Nearby Businesses Who Received PPP Funding:
Tabernacle Of Congregation
Baton Rouge, LA
Grace Life Fellowship, Inc
Baton Rouge, LA
Jefferson Baptist Church
Baton Rouge, LA
Morning Star Full Gospel Baptist Church
Baton Rouge, LA
The Greater King David Baptist Church Of Baton Rouge, Louisi
Baton Rouge, LA
The Bridge Church Baton Rouge
Baton Rouge, LA
True Vine Baptist Church Of Scotlandville Inc
Baton Rouge, LA
The Romancatholic Church Of The Diocese Of Baton Rouge
Baton Rouge, LA
The Greater King David Baptist Church Of Baton Rouge Louisia
Baton Rouge, LA
Industry PPP Comparison Statistics
Nationwide, 122,670 businesses in the "Religious Organizations" industry received a total of $9.25B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 12 employees, 60% lower than Christ Covenant Church's reported 30 employees, and received an average PPP loan of $75,418, 57% lower than this company's loan of $175,400.
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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